#GENIUS Stablecoin Bill The GENIUS Stablecoin Bill has made significant progress in the US Senate. Here's what's happening¹ ²:
- *Bill Overview*: The GENIUS Act, introduced by Senator Bill Hagerty in February, aims to regulate the $248 billion stablecoin market by establishing a framework for stablecoin issuance.
- *Key Provisions*:
- *Reserves Requirement*: Stablecoin issuers must maintain 1:1 reserves backed by US dollars.
- *Anti-Money Laundering*: Implementing anti-money laundering and know-your-customer protocols.
- *Licensed Entities*: Only licensed entities can issue stable