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Senate advances GENIUS Act to regulate stablecoins, requiring backing by dollars or liquid assets.
The Senate Banking Committee has advanced the GENIUS Act, a bill to regulate stablecoins, with bipartisan support.
The legislation, introduced by Senator Bill Hagerty, establishes licensing and regulatory requirements for stablecoin issuers.
It mandates that stablecoins be backed by U.S. dollars or highly liquid assets and requires compliance with anti-money laundering standards.
The bill now heads to the full Senate for a vote.
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El Senado promueve la Ley GENIUS para regular las monedas estables, requiriendo respaldo de dólares o activos líquidos.