The GENIUS Act being promoted in the U.S. Senate is in the amendment stage and proposes new standards for stablecoin operations.
GENIUS Act Gains Bipartisan Support in Senate
The GENIUS Act, led by Senator John Thune, garners support from both parties. The objective of the bill is to create clear standards for stablecoin issuers, potentially impacting a broader digital asset market.
Senate Decision Aims to Boost U.S. Market Confidence
The bill's support could strengthen institutional confidence and promote investments in the U.S. market. Senator Tim Scott highlighted the importance of bipartisan efforts to maintain innovation in digital finance.
Comparing GENIUS Act with EU's MiCA Framework
Comparisons with the EU's MiCA framework indicate a potential increase in institutional activity for compliant assets. Kraken's Jonathan Jachym emphasized the importance of finalizing regulation to support innovation and national security.
The GENIUS Act may represent a significant step forward in stablecoin regulation in the U.S., helping to shape a more predictable environment for digital assets.
