The U.S. Senate passed the GENIUS Act with a bipartisan vote of 68 in favor and 30 against, establishing the first federal-level regulatory framework for [[[[stablecoins](#)](#)](#)](#), which will be sent to the House of Representatives for consideration in the next step. (Synopsis: Bank of America CEO: is developing its own stablecoin, Tether CEO secretly choked: it's time for a showdown) (Background supplement: South Korea submitted the "Stablecoin Act", allowing domestic companies to issue and must have sufficient reserve assets) The US Senate officially passed the "2025 US Stablecoin National Innovation Guidance and Specification Act" (GENIUS Act) 68 to 30 in the early morning of the 18th Taiwan time, with a market value of more than 2500 The $100 million stablecoin market sets the first set of federal rules of the game, and the bill has now been sent to the House of Representatives for further review, which will determine whether this framework can be officially implemented. High standards of reserves and transparency According to the bill, stablecoins must be one-to-one pegged to the US dollar and fully backed by cash and one-year US Treasuries; Issuers are required to publish monthly reserve breakdowns, and projects with a market