Republican Senator Bill Hagerty Introduces The GENIUS Act to Regulate Stablecoins

Key Summary:


  • The GENIUS Act aims to provide regulatory clarity for the issuance of stablecoins in the U.S.

  • This bill proposes regulations for stablecoin issuers based on their volume.

  • This legislation aims to foster innovation and reinforce the U.S. dollar’s position as the world’s leading currency.

  • Introduction: The Stablecoin Regulation Rush


    The crypto industry has seen a drastic change in its environment with stablecoins acting as a major driving force connecting the highly volatile crypto world and the stable traditional currencies. However, it is the lack of a clear regulatory template that has caused uncertainty about the future of stablecoins. It was only due to the diverse Bill Hagerty, who is now registering the GENIUS Act, republican senator hagerty introduces genius regulate stablecoins