The United States Senate passed the GENIUS Act motion on May 20, 2025 What has been passed is only a motion, not a formal bill. There are two levels of procedures to go through: submission to the House of Representatives for review, signature by the President, and then implementation; This is the first federal regulatory framework for stablecoins; Require the issuer of stable currency to hold 100% reserves supported by US dollars or short-term treasury bond; Require compliance with anti money laundering and sanctions regulations; Prohibit misleading propaganda; Restricting the issuance of stablecoins by tech giants and raising the compliance threshold for foreign issuers; Some Democratic lawmakers were unhappy, with 66 votes in favor and 32 votes against. As for the impact after the bill is officially passed, as you know, there is no need to elaborate further.