GENIUS Act

US Treasury Seeks Comments on GENIUS Act & Crypto Casinos

US Treasury Seeks Comments on GENIUS Act & Crypto Casinos

The US Department of the Treasury has formally opened a second round of public comment on the implementation of the GENIUS Act, the stablecoin-payments legislation signed into law in July. Though the Treasury had already initiated an “advance notice of proposed rulemaking” in August, this fresh comment period allows stakeholders to raise additional concerns – US Treasury Seeks Comments on GENIUS Act & Crypto Casinos

GENIUS Act Passed by US Senate

GENIUS Act

This week, the GENIUS Act was approved by the US Senate as another step towards creating a framework regulating stablecoins. US Senators had a 66-32 vote which advanced the GENIUS Act into the next stage of approval. The bipartisan vote passed cloture, allowing the bill to proceed to full Senate debate and possible amendments. Sen. GENIUS Act Passed by US Senate

US Legislators Unveil Updated GENIUS Act for Stablecoin

GENIUS Act updated by US Legislators

US lawmakers have presented an updated version of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. This was led by a bipartisan coalition comprising Senators Bill Hagerty, Tim Scott, Kirsten Gillibrand, Cynthia Lumis, and Angela Alsobrooks. The GENIUS Act aims to lay out structured regulations for stablecoin issuers. Such a structure strives US Legislators Unveil Updated GENIUS Act for Stablecoin