Did I enjoy this article?
Share it with your friends!
A bill destined to regulate Stablecoins, known as the Genius act, He has eliminated a great obstacle in the United States Senate..
The Senate Banking Committee approved the measure With a vote of 18-6winning support from both Republicans and several Democrats. This approval prepares the stage for a complete vote of the Senate, which could take place at the end of April.
Republican senator Bill Hagerty (R-TN), who presented the bill, emphasized his role in Provide Stablecoin emitters clear and national regulatory options.
Did you know?
Subscribe: We publish new cryptography explanatory videos every week!
How to store NFTS in 2023 (3 safer ways explained)
Five Democrats-Avage also (D-MD), Mark Warner (D-VA), Andy Kim (D-NJ), Lisa Blunt Rochester (D-Dee) and Ruben Gallego (D-IZ)-He joined the Republicans to support the legislation.
Meanwhile, the bill He faced the opposition of Senator Elizabeth Warren (D-MA)A critic for a long time of cryptocurrency. She pressed for additional measures that would have prohibited Stablecoin emitters linked to illegal activities, such as drug trafficking.
Another proposal was aimed at extending the supervision of the bill to include encryption exchanges and other platforms that deal with Stablecoins. However, all its proposed amendments were rejected, mainly along the lines of the parties.
Frustrated by the result, Warren questioned the decision of the committee, declaring: “Who are we trying to protect, Iran and North Korea?” He later clarified that while he was not against Stablecoins, he wanted stronger protections instead.
Recently, Nebraska introduced new regulations to combat fraud in cryptocurrency ATMs. What do they imply? Read the full story.
Having completed a master’s degree in economics, politics and cultures of the Oriental Asia region, Aaron has written scientific documents that analyze the differences between Western and collective capitalism forms in the era after World War II.
With about a decade of experience in the Fintech industry, Aaron understands all the most important problems and struggles facing cryptography enthusiasts. He is a passionate analyst who is concerned about data -based content and based on facts, as well as the one who speaks for both web3 natives and for the newcomers of the industry.
Aaron is the reference person for everything and anything related to digital currencies. With a great passion for blockchain & web3 education, Aaron strives to transform the space as we know it and make it more accessible to complete beginners.
Aaron has been summoned by multiple established means and is an author published. Even during his free time, he likes to investigate market trends and look for the next Supernova.
