The GENIUS Act would require every payment stablecoin to hold high-quality, highly liquid assets equal to the value of tokens in circulation, chiefly short-dated US Treasuries or insured deposits.
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Senate’s 68-30 cloture vote speeds GENIUS Act toward simple majority passage
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GENIUS Act mandates that all payment stablecoins be fully backed by highly liquid assets such as U.S. dollars or short-term Treasury securities
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