What Impacts Might the GENIUS Act Have on the Crypto Industry?

A bipartisan bill aimed at establishing rules for so-called stablecoins could be a key step in sending the cryptocurrency industry into the mainstream.

An image of the logo to a cryptocurrency known as Bitocin against an orange backdrop.
The Bitcoin symbol is inside a BitBase bitcoin store in Lisbon, Portugal, on February 4, 2022. (Photo Illustration by Luis Boza/NurPhoto via AP)

A bipartisan bill aimed at establishing rules for so-called stablecoins could be a key step in sending the cryptocurrency industry into the mainstream.  

In a procedural vote on Monday, the U.S. Senate advanced the GENIUS Act, securing the 60-vote threshold toward a full vote in the near future. The bill would create a regulatory framework to support the creation of stablecoins, which…

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