#GENIUSActPass ๐ง ๐ต GENIUS Law โ A big step towards regulating stablecoins in America!
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Officially approved by the U.S. Senate crypto_news
#TardersLeague #Stablecoins #Binance $ETH ๐ Key points:
๐น Stablecoins (USDT, USDCโฆ) must be 100% backed by dollars or treasury bonds
๐น Mandatory annual audits for major issuers (more than 50 billion dollars)
๐น Strong protection for user funds in case of issuer bankruptcy
๐น Oversight on foreign issuers (like Tether)
๐น Prohibition of government officials from issuing digital currencies for personal gain
๐ This law will enhance global trust in stablecoins and strengthen the dollar's dominance in the digital economy.
โ๏ธ Now it goes to the House of Representatives, with official signing expected before August 2025.
๐ฃ Finally, regulation is catching up with innovation!
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$BTC