{"id":52806,"date":"2025-05-21T05:53:56","date_gmt":"2025-05-21T05:53:56","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/u-s-senate-advances-genius-act-to-regulate-stablecoins\/"},"modified":"2025-05-21T05:53:56","modified_gmt":"2025-05-21T05:53:56","slug":"u-s-senate-advances-genius-act-to-regulate-stablecoins","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/u-s-senate-advances-genius-act-to-regulate-stablecoins\/","title":{"rendered":"U.S. Senate Advances GENIUS Act to Regulate Stablecoins"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>The U.S. Senate has voted to move forward with the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), a bill that would introduce a national framework for regulating stablecoin issuers. The 66-32 procedural vote on Monday clears the way for formal debate on the Senate floor.<\/p>\n<hr\/>\n<p><em><strong>Good to know<\/strong><\/em><\/p>\n<ul>\n<li><em><strong>Stablecoin issuers over $50 billion would face annual audits and monthly reserve disclosures.<\/strong><\/em><\/li>\n<li><em><strong>Algorithmic stablecoins and issuers tied to large tech firms would face new restrictions.<\/strong><\/em><\/li>\n<li><em><strong>The sector\u2019s estimated value stands near $250 billion, with no current federal rules in place.<\/strong><\/em><\/li>\n<\/ul>\n<hr\/>\n<p>Introduced by Sen. Bill Hagerty (R-Tenn.), the GENIUS Act requires stablecoin issuers to maintain full asset backing and provide consistent financial transparency. The bill also includes strict conditions for larger players, such as mandatory audits and public reporting of reserve holdings for issuers with a market cap exceeding $50 billion.<\/p>\n<p>The legislation aims to close existing regulatory gaps in the fast-growing stablecoin market while setting clear national standards. However, it restricts algorithmic stablecoins and prevents large tech companies from launching stablecoins unless they meet specific financial and privacy benchmarks.<\/p>\n<p>The Senate vote comes shortly after Senate Democrats initially blocked the bill, raising concerns about consumer protection, foreign issuer oversight, and links to former President Donald Trump\u2019s crypto-related ventures. One Democratic senator said,<em> \u201cThe bill as it currently stands still has numerous issues that must be addressed, including adding stronger provisions on anti-money laundering, foreign issuers, national security, preserving the safety and soundness of our financial system, and accountability for those who don\u2019t meet the act\u2019s requirements.\u201d<\/em><\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong> <\/p>\n<p>New players only. Exclusive Welcome Bonus of up to $2,500<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Despite the concerns, several Democrats changed their position, allowing the bill to advance to the next stage.<\/p>\n<p>The GENIUS Act is now open to further debate and potential amendments. A final vote may take place later in the week. If passed into law, it would become the first federal regulatory structure for stablecoins, a key part of the broader digital asset market.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/senate-moves-stablecoin-regulation-bill-forward-with-genius-act-vote\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) The U.S. Senate has voted to move forward with the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), a bill that would introduce a national framework for regulating stablecoin issuers. The 66-32 procedural vote on Monday clears the way for formal debate on [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":52807,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/52806"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=52806"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/52806\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/52807"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=52806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=52806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=52806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}