Analysis: GENIUS Act will require stablecoin issuers to disclose reserve composition monthly after it takes effect

Odaily News The U.S. Senate passed the Guidance and Establishment of a National Innovation for U.S. Stablecoins (GENIUS Act) on Tuesday, establishing a regulatory framework for stablecoins anchored to the U.S. dollar. This milestone marks the beginning of a new era for the digital asset industry. The bill received overwhelming bipartisan support with 68 votes in favor and 30 votes against, with several Democratic lawmakers and a majority of Republican lawmakers jointly promoting the implementation of federal rules. The bill has now been submitted to the Republican-controlled House of Representatives for review. If it passes smoothly, it will be presented to Trump for signature. Analysts believe that if the bill takes effect, it will require stablecoin issuers to use liquid assets such as U.S. dollars and short-term U.S. Treasury bonds as reserves, and publicly disclose the composition of reserves every month. (Reuters)