#USStablecoinBill

A new law called the GENIUS Act is being introduced in the U.S. Senate to create rules for stablecoins—digital currencies that are linked to the U.S. dollar. According to this law, companies can only issue stablecoins if they hold secure reserves and register either at the federal or state level. However, the bill gives exemptions to foreign companies, which has raised concerns among U.S.-based firms. Some lawmakers fear it could allow big tech companies to launch their own digital currencies, and there is controversy over potential benefits to a Trump family-owned company. The bill has not been fully approved yet, and political disagreements continue.