Is the GENIUS Act an answer to Stablecoin regulation in the US? All about first-of-its-kind cryptocurrency legislation

The US Senate has advanced the GENIUS Act, a bipartisan bill aimed at regulating stablecoins, with a 66-32 vote. This significant step towards formal oversight of the digital asset space establishes a regulatory framework for stablecoin issuers. The legislation seeks to balance consumer protection and innovation in the rapidly growing stablecoin market, now approaching $250 billion.