Summary
- The US Senate is reportedly likely to reintroduce the stablecoin regulation bill known as the 'GENIUS Act.'
- The bill imposes requirements on stablecoin issuers to obtain a license, maintain 100% reserves, and fulfill disclosure obligations.
- The GENIUS Act has been noted as a potential benchmark for stablecoin regulation in the US, drawing industry attention.
According to cryptocurrency-focused media outlet CoinDesk on the 15th (local time), the US Senate is likely to reintroduce the stablecoin regulation bill known as the 'GENIUS Act.'
The bill was previously halted due to opposition from the Democratic Party, but procedural voting could occur as early as the 15th.
The GENIUS Act imposes requirements on stablecoin issuers such as ▲obtaining a license ▲maintaining 100% reserves ▲disclosure obligations, and has been noted as a potential benchmark for stablecoin regulation in the US, drawing industry attention.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
