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GENIUS Act 2025
July 28 , 2025
99 days
485
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- The US House of Representatives has passed the Genesis Act.
- It is America’s first federal framework for stablecoins pegged to the US dollar.
- The stablecoin bill would require tokens to be backed by liquid assets, such as US dollars and short-term Treasury bills.
- Stablecoins are a type of cryptocurrency designed to maintain a constant value.
- These are commonly used by crypto traders to move funds between tokens.
- It marks a major step for the crypto industry.
- The House also passed two other crypto bills.
- One creates a wider regulatory framework for digital assets, which is called the Clarity Act.
- And the other would ban a US central bank digital currency.
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