The United States is preparing for an important vote on the Senate Stabelcoin bill, which has been dubbed the Genius Act coming on Monday. After several delays, the bill is finally moving forward with a ‘clotter vote’ set by the Senate leader John Thune.
This decision is a significant turn for stabechoin regulation in the country, a development that has attracted national attention and is renewed between MPs.
Stabecoin Bill takes advances to vote stage
In His Latest post on XAmerican journalist Ellenor Terit reported that the senator Theun was officially filed for a clotter on the Genius Act, established votes for May 19. This step indicates a final push by MPs to bring the law to the floor after a series of back-end-trunk debate.
According to Senate sources, an bipartisan amendment is also being reviewed. Discussed changes include strict rules for technical companies, better consumer protection, and tight monitoring of government officials, including figures such as Alone Musk.
They also include clear rules for preventing misuse of FDIC insurance and strengthening bankruptcy safety.
These updates can help the bill get wide support on both sides. The vote will determine that the Senate is ready for the Digital Assets Act that balances financial innovation with accountability.
The Genius Act: What is this here
Senator bill hagerti Bill introduced To regulate StableCoin in the US, laying a regulatory structure for tokeers. StableCoins are digital tokens that are bound by the US dollar, and the bill focuses on ensuring that the issuers follow strict rules on licenses, asset support and transparency.
Under the proposed law, large issuers of more than $ 10 billion in property come under the supervision of Federal Reserve, while state officials will regulate small people.
All issuers will have to return their stabecoin with assets such as the US Dollar or Treasury Bill. The bill also promotes financial inclusion and aims to help strengthen the US dollar in global markets.
Stable act between push for crypto oversight
While the Senate Genius Act prepares the vote, the House has already passed a uniform Stabelcoin bill Stable workThis law determines the rules for all US dollars-supported stabechoin, which includes popular tokens such as tather and USD coin (USDC).
MPs supporting the stable Act believe that it will provide more protection to consumers and help maintain the leadership of the United States in financial technology.
Congress Dan Masser and other supporters say that it makes the necessary railings as the use of digital currency increases. This bill also tries to prevent risky practices by the need for complete transparency from stabechoin companies.
Coingpe also noted that the United States is watching Congress Crypto accelerates inspection With the new StableCoin bill. MPs believe that the purpose of genius and stable acts is to bring orders for the fast -developed part of the financial system.
Godfrey benjamin
Benjamin Godfrey is a blockchain enthusiastic and journalist who writes about the real -life applications of blockchain technology and innovations that are for general acceptance and emerging technology to run integration worldwide. His desires to educate people about cryptocurrency inspire his contribution to famous blockchain -based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow it X, Linkedin
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