There is a New Development in the GENIUS Bill That Will Determine the Fate of Cryptocurrencies! “Deadline is June 17!”
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There has been a new development in the US cryptocurrency-friendly stablecoin law GENIUS. Accordingly, it has been reported that the US Senate is planning a final vote on the GENIUS Act on June 17. Date Set for GENIUS! The U.S. Senate is scheduled to hold a final vote on the GENIUS Act, which aims to create a comprehensive regulatory framework for stablecoins, on June 17. The announcement stated that the date was set as June 17, but the exact time would be determined later by the Majority Leader in consultation with the Senate Democratic Leader. If the bill passes the Senate, it will be sent to the House of Representatives for the next vote. The bill requires stablecoins to be fully backed by U.S. dollars or similar liquid assets, and aims to create legal footing for them by requiring annual audits for issuers with a market value of over $50 billion and adding compliance guidelines for foreign issuers. US President Donald Trump previously said he wanted to pass stablecoin legislation by August. Earlier this week, US Treasury Secretary Scott Bessent said that stablecoin legislation could pave the way for the USD stablecoin market to exceed $2 trillion by the end of 2028. Related News: US Treasury Secretary Scott Bessent Talked About Cryptocurrencies! *This is not investment advice. Continue Reading: There is a New Development in the GENIUS Bill That Will Determine the Fate of Cryptocurrencies! “Deadline is June 17!”
Source: BitcoinSistemi
