US Senate passes pioneering Genius Act: A new era of stablecoin regulation begins

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US-Senat Verabschiedet Gesetz über Kryptowährungen: Der „Genius Act“ Nach langen Verhandlungen und Verzögerungen hat der US-Senat das erste Gesetz zur Regulierung von Kryptowährungen, bekannt als der „Genius Act“, verabschiedet. Dieses Gesetz markiert einen wichtigen Schritt in der Regulierung von Stablecoins und zielt darauf ab, eine strukturierte und transparente Rechtsgrundlage zu schaffen. Was ist der Genius …
US Senate passes the law on cryptocurrencies: The “Genius Act” after long negotiations and delays the US Senate has passed the first law to regulate cryptocurrencies, known as the “Genius Act”. This law marks an important step in the regulation of stable coins and aims to create a structured and transparent legal basis. What is the genius ... (Symbolbild/KNAT)

US senate passes law on cryptocurrencies: the "Genius Act"

After long negotiations and delays, the US Senate has passed the first law to regulate cryptocurrencies, known as the "Genius Act". This law marks an important step in the regulation of stable coins and aims to create a structured and transparent legal basis.

What is the genius act?

The Genius Act is a comprehensive set of rules that aims to regulate the use and trade with stable coins, a specific type of cryptocurrencies that are bound to traditional assets such as the US dollar. The law is intended to ensure that stable coins operate in a firm legal framework to protect both consumers and the financial markets.

Significance of stable coin regulation

StableCoins are becoming increasingly important in the financial sector because they beat a bridge between traditional currencies and digital assets. The regulation of these digital currencies is crucial to minimize risks and strengthen the trust of investors and users. The Genius Act has new standards and requirements that promote the transparency, security and traceability of stable coin transactions.

FAZIT

With the adoption of the Genius Act by the US Senate, an important milestone in the regulation of cryptocurrencies is achieved. The legal framework condition not only creates clarity for the users of stable coins, but also for the developers and providers of these digital currencies. The step in regulated railways could strengthen trust in cryptocurrencies and drive integration into the traditional financial system.