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

Planet Daily News: According to the Associated Press, the U.S. Senate passed the GENIUS Act, a stablecoin regulatory bill, with 68 votes in favor and 30 against. The bill will be sent to the House of Representatives for review. The bill establishes a federal regulatory framework for stablecoins, requiring one-to-one reserves, consumer protection, and anti-money laundering mechanisms. Treasury Secretary Scott Bessent predicts that the bill's implementation will generate a $3.7 trillion stablecoin market and may attract tech giants like Apple and Google. However, the bill does not limit the president and his family from profiting from stablecoin issuance, drawing criticism from Democrats over potential conflicts of interest for the Trump family. The World Liberty Financial project owned by the Trump family earned over $57 million through token sales last year. (Cointelegraph)