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🏛️ U.S. Senate Nears Passage of Stablecoin Regulation
The U.S. Senate is close to passing the GENIUS Act, the first major crypto legislation aimed at regulating stablecoins. The bill mandates that stablecoin issuers maintain reserves in liquid assets and comply with anti-money laundering regulations. It also seeks to limit tech giants' involvement in stablecoin issuance.