Congress Passes GENIUS Act in Major Win for US Crypto Industry
The US House of Representatives on Thursday voted overwhelming to pass the country’s first significant cryptocurrency regulation, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. It will now go to President Donald Trump for final approval. If enacted, the bill will establish rules for issuers of stablecoins, a type of coin pegged to a $1 valuation, which proponents have pitched as a faster and cheaper way to make payments. The bill requires issuers to collater