The U.S. House of Representatives just marked a major milestone for digital finance! With a resounding 308 to 122 vote, lawmakers passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) – the first-ever federal regulation for stablecoins. This digital currency, typically pegged to the U.S. dollar or other fiat currencies, is set to experience a more secure and transparent future. 😎
In today’s fast-paced digital era, where mobile transactions and crypto innovations are on the rise, this bill signals a promising step towards developing a robust regulatory framework. The bipartisan support behind the GENIUS Act underlines its pivotal role in shaping the future of digital assets.
Adding to the momentum, on the same day the House also approved the Digital Asset Market Clarity Act and the Anti-CBDC Surveillance State Act. The former establishes clear rules for crypto exchanges, brokers, and issuers, while the latter bans central-bank digital currencies, aiming to protect privacy and limit surveillance. Though these bills still await Senate approval, they highlight the growing global focus on digital economy regulation.
U.S. President Donald Trump is expected to sign the GENIUS Act into law soon, paving the way for structured innovation in the digital currency space. For tech enthusiasts and digital natives in South and Southeast Asia, this move is a reminder that global trends in crypto regulation could very well set the tone for future developments around the world. Stay tuned for more updates as the digital revolution continues to evolve! 🚀
Reference(s):
cgtn.com
