💨 Abstract

The U.S. House of Representatives passed the bipartisan GENIUS Act, regulating stablecoins, sending it to President Donald Trump. The vote was 308-122 after a delay due to Republican opposition. The law requires stablecoin issuers to comply with U.S. anti-money laundering laws and international sanctions. Some Democrats, like Senator Elizabeth Warren, criticized the law for lacking consumer protections.

Courtesy: WTOP Staff