U.S. Senate Moves Closer to Passing Landmark Stablecoin Regulation 🇺🇸
The U.S. Senate has made significant progress in regulating stablecoins by advancing the GENIUS Act with a notable 68-30 vote to invoke cloture on the Hagerty-Gillibrand bipartisan amendment. This step advances the Senate closer to a pivotal final vote scheduled for June 16.
The GENIUS Act has garnered bipartisan support and proposes comprehensive regulations for stablecoin issuers. Notably, a key amendment to the bill enhances anti-money-laundering (AML) protections and prohibits the issuance of stablecoins from certain jurisdictions.
This legislative move is poised to be a critical moment in U.S. crypto regulation and legislation.
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