The US Senate is advancing the GENIUS Act, aimed at establishing a comprehensive regulatory framework for stablecoins, following a procedural vote. The bill defines payment stablecoins and stipulates who can issue them, including bank subsidiaries and approved non-bank entities. Alongside this, the Blockchain Regulatory Certainty Act is being discussed in the House, providing legal clarity for developers not involved in fund custody, thereby clarifying that they are not considered money transmitters. Support from both Democrats and Republicans indicates a growing momentum for cryptocurrency regulation, particularly as market adoption increases, notably among minority communities. The pressure is on lawmakers to respond to the rising number of Americans holding crypto, suggesting that public involvement will be crucial in shaping future legislation.

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