NEW: 🇺🇸 US Senate Passes Landmark Crypto Stablecoin Bill - What Comes Next?

Regulatory Framework & Market Impact - The US Senate passed the Genius Act, establishing a regulatory framework for stablecoins, potentially integrating trillions of USD into the crypto market [2] - The Genius Act aims to establish a progrowth regulatory framework for payment stablecoins, potentially solidifying US dollar dominance [4] - The Act mandates one-to-one backing of stablecoins with cash and short-term US treasuries [5] - Stablecoin issuers could become the world's largest holders of US treasuries by 2030, enhancing fiscal resilience and USD dominance [8] Compliance & Operational Standards - Stablecoin issuance is restricted to insured depositories, federal/state qualified issuers, requiring adherence to reserve requirements and integrity standards [9][10] - Reserves must be backed one-to-one by Federal Reserve balances, cash, demand deposits, or treasury instruments, with rehypothecation generally banned [10][11] - Issuers must have clear redemption procedures, publish monthly audited reserve reports, and annual independent audits, while not marketing stablecoins as legal tender or FDIC insured [12][13] - Custody of reserves and private keys must be held by FDIC/NCUA banks, OCC charter trust banks, or federally supervised custodians, subject to recurring audits [13] - Issuers and custodians must comply with anti-money laundering regulations, including the ability to freeze tokens on lawful order, with the Treasury potentially blocking non-compliant foreign stablecoins [14] Market Trends & Opportunities - Coinbase is seeking SEC approval for tokenized equities, indicating a convergence of traditional finance (Web 2) and crypto (Web 3) [18][19] - JP Morgan partnered with Coinbase-backed Ethereum L2 base to launch JPMDcoin, a USD deposit token for institutional clients, signaling Ethereum adoption [22] - Bitcoin represents 1.3% of global money, indicating substantial upside potential compared to the traditional financial system [21]