#GENIUSAct
"The USA approves the GENIUS Act for Stablecoins"
The GENIUS Act (Guidance and Establishment of National Innovation for the USA Stablecoins Act) has been approved.
Wikipedia
This is an important stablecoin regulation: the law requires that stablecoins be backed one-to-one by US dollars or other low-risk assets.
Wikipedia
It requires transparency and regular audits, which can help make stablecoins more trustworthy for users and regulators.
Wikipedia
The law establishes dual regulation (federal + state) and creates consumer protections around stablecoins.
Wikipedia
Implication: This may bring more legitimacy and stability to stablecoins, making them more widely acceptable in payments, DeFi, and even in banks.
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