Win for the crypto industry: US passed the first major bill to regulate digital assets
Win for the crypto industry: US passed the first major bill to regulate digital assets
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The US government has passed the first federal legislation to regulate stablecoins during 'Crypto Week', with the House approving three crypto-related bills. The stablecoin bill, known as the 'Genius Act', aims to provide consumer protections and regulatory frameworks for stablecoins, which are linked to stable assets like the US dollar. The legislation is seen as a significant step for the crypto industry, which has been advocating for clearer regulations. Despite bipartisan support, some Democrats express concerns over potential conflicts of interest and the bill's regulatory adequacy.
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