Big news for crypto! The Senate passed a new law called the GENIUS Act. It's all about stablecoins – special cryptocurrencies that try to stay the same price as the US dollar.
This law helps make things clearer for companies that make these stablecoins. It's like giving them a rulebook so they know how to act.
It wants to make sure the U.S. stays ahead in the world of digital money.
- The law says stablecoin companies need to keep enough money to back up each coin.
- Companies can choose between federal or state rules, as long as the rules are good.
- It might make things less confusing for everyone using these types of crypto.
| Thing | Info |
|---|---|
| Vote Result | 18 to 6, mostly in favor! |
| What it does | Creates rules for stablecoins |
| Goal | Make the U.S. a leader in crypto |
