The US GENIUS Act was approved by the Senate, marking a historic step for stablecoin legislation

Odaily Planet Daily News According to the Associated Press, the U.S. Senate passed the stablecoin regulatory bill GENIUS Act with 68 votes in favor and 30 votes against. The bill will be sent to the House of Representatives for deliberation. The bill establishes a federal regulatory framework for stablecoins, requiring one-to-one reserves, consumer protection and anti-money laundering mechanisms, but does not restrict the president and his family from profiting from the issuance of stablecoins, sparking criticism from Democrats about the Trump family's potential conflicts of interest. The World Liberty Financial project held by the Trump family made more than $57 million in profits from token sales last year. (Cointelegraph)