Senator Hagerty has introduced a bill called the GENIUS Act in the Senate, which aims to provide clear regulations for stablecoins. The bill outlines regulations for stablecoins, defines them as digital currencies tied to the value of the USD, and requires issuers to meet licensing and reserve requirements. The bill also applies stricter rules to issuers with over $10 billion in stablecoin assets. The goal of the bill is to promote financial inclusion, make transactions more efficient, and support the dominance of the US dollar. The bill is expected to move quickly through committees and will be discussed further in a press conference.



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