Jacob King
Jacob King|Jun 17, 2025 11:15
๐Ÿšจ BREAKING: The U.S. Senate votes TODAY at 4:30 PM ET on the GENIUS Act โ€” a landmark stablecoin bill. If it passes, it could mark the beginning of the end for Tether in the U.S., imposing strict reserve, audit, and regulatory requirements. ๐Ÿ”’ Require federal/state licenses to issue ๐Ÿ’ฐ Mandate 1:1 cash/T-bill reserves ๐Ÿงพ Monthly audited reserve disclosures ๐Ÿšซ Ban rehypothecation of reserves ๐Ÿ‘ฎโ€โ™‚๏ธ Strict federal oversight & enforcement ๐Ÿ’ธ 100K/day fines for noncompliance ๐Ÿ“œ Must comply with AML laws โš–๏ธ Exempts compliant coins from SEC/CFTC rules ๐Ÿ“‰ Over 10B = forced federal regulation
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