Republicans are calling for Thursday vote on the Genius Act: nationwide rules for stable coins despite loss of important support from the Democrats.

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Republikaner drängen auf Abstimmung über das GENIUS-Gesetz zur Regulierung von Stablecoins Am Donnerstag wird eine Abstimmung über das GENIUS-Gesetz anberaumt, welches darauf abzielt, bundesweite Regelungen für Stablecoins festzulegen. Trotz des Vorstoßes sehen sich die Republikaner mit dem Verlust wesentlicher Unterstützung von der demokratischen Seite konfrontiert. Stablecoins, digitale Währungen, die an stabile Vermögenswerte wie den US-Dollar …
Republicans are pushing for voting on the genius law to regulate stablecoins on Thursday a vote on the genius law is scheduled, which aims to determine nationwide regulations for margins. Despite the advance, the Republicans are faced with the loss of essential support from the democratic side. Stablecoins, digital currencies that have stable assets such as the US dollar ... (Symbolbild/KNAT)

Republicans urge the genius law to regulate stablecoins

On Thursday, a vote on the Genius Act will be scheduled, which aims to determine nationwide regulations for stable coins. Despite the advance, the Republicans are faced with the loss of essential support from the democratic side.

stablecoins, digital currencies that are bound to stable assets such as the US dollar are becoming increasingly important in the financial sector. The regulation of these digital currencies could help to create uniform standards and to promote both consumers and investors.

The discussion about the Genius Act emphasizes the different views between the political camps, in particular with regard to supervision and the regulatory framework for digital currencies. While Republicans support the development of stablecoins to promote innovations and competitiveness, some Democrats are concerned about potential risks and the necessary consumer protection in this aspiring area.

Although the support for the law is evaluating from the democratic side, it remains to be seen whether the Republicans can bring enough voices together to implement the project. The results of this vote could have a significant impact on the future of stable coins and their regulation in the USA.