Reported about 16 hours ago
The US Senate is advancing the GENIUS Act, which aims to create a regulatory framework for stablecoins—digital tokens backed by a stable asset like cash. The act garners both bipartisan support and criticism, with proponents claiming it balances innovation with oversight, while critics express concerns over inadequate safeguards and potential data misuse by tech giants. Key figures, including Senator Elizabeth Warren, argue that the bill could lead to significant financial risks due to prior instability in stablecoins.
Source: YAHOO