Summary
- Senator Bill Hagerty introduced the 'GENIUS Act' to clearly regulate stablecoins in the United States.
- The bill defines stablecoins as digital assets pegged to the U.S. dollar.
- Senate officials expect the bill to pass quickly and it is scheduled for further discussion at a press conference on the 5th.
Eleanor Terrett, a reporter for Fox Business, reported on the 4th (local time) via X (formerly Twitter) that U.S. Senator Bill Hagerty from Tennessee has introduced a new stablecoin bill, the 'GENIUS (Guiding and Establishing National Innovation in U.S. Stablecoins) Act.' The bill provides clear regulations for stablecoins in the United States and defines stablecoins as digital assets pegged to the U.S. dollar.
Furthermore, Senate officials expect the bill to quickly pass through the congressional committee and it is scheduled to be discussed at a press conference with the administration's crypto and AI czar, David Sachs, on the 5th (local time).
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
![[Analysis] "Bankruptcy fears around Strategy are spreading…concerns somewhat overstated"](https://media.bloomingbit.io/PROD/news/ca8aa06b-c04b-4831-b878-608bd90bdd3d.webp?w=250)
