The bill will be called the "Guiding and Establishing National Innovation for US Stablecoins" and will include requirements for backing stablecoin payments with Treasury bills, U.S. dollars, and Federal Reserve notes
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Sen. Hagerty to introduce stablecoin legislation: Bloomberg
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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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