Summary
- The US Senate has reportedly initiated the amendment process for the GENIUS bill, a stablecoin regulation bill.
- The GENIUS bill requires stablecoin issuers to obtain a license and maintain 100% reserves.
- This bill could become a benchmark for US stablecoin regulation, attracting industry attention.
Eleanor Terrett, host of Crypto in America, reported on the 21st (local time) via X (formerly Twitter) that the US stablecoin regulation bill GENIUS has entered the amendment process in the Senate with 69 votes in favor and 31 against.
The GENIUS bill proposes to require stablecoin issuers to obtain a license, maintain 100% reserves, and fulfill disclosure obligations, which could become a benchmark for US stablecoin regulation, drawing attention from the industry.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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