Summary
- Senator Bill Hagerty announced that President Donald Trump is ready to sign the Genius Act.
- The Genius Act is a bill that establishes a legal framework for the issuance and operation of stablecoins.
- The bill is expected to undergo deliberation in the House of Representatives and then receive approval from President Trump.
On the 24th (local time), Senator Bill Hagerty stated in an interview, "President Donald Trump is ready to sign the Genius Act, a bill concerning stablecoins (virtual assets pegged to fiat currency)." Hagerty is the person who introduced the Genius Act.
Previously, on the 17th, the United States Senate passed the Genius Act with 68 votes in favor and 30 against.
The Genius Act is expected to lay the foundation for incorporating stablecoins into the institutional framework by establishing legal guidelines for the issuance and operation of stablecoins.
Currently, the Genius Act is set to undergo deliberation in the House of Representatives, followed by President Donald Trump's approval.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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