TechFlow news, on May 7, U.S. Senator Cynthia Lummis revealed today (May 7) the contents of the GENIUS Act, a bill that will regulate the stablecoin market. Key measures include requiring all stablecoins to maintain 1:1 reserve backing, strengthening consumer bankruptcy protection rights, and establishing strict marketing standards.
The bill is expected to provide a clear legal framework and dual regulatory pathway for the U.S. stablecoin market, potentially attracting traditional financial institutions to enter the space.
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