The GENIUS Act sets rules for issuing stablecoin payments and requires backing with US currency, Treasury bills, Federal Reserve notes and other assets
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Just In: Senator Hagerty Introduces GENIUS Act to Regulate Stablecoins
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The GENIUS stablecoin bill would require all stablecoins to be backed by U.S. Treasury bills, U.S. dollars, and Federal Reserve notes
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The purpose of the GENIUS stablecoin bill is to define stablecoins, set procedures for issuing them, establish requirements for underlying assets, and create a supervision mechanism
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