Jacob King|Jun 17, 2025 11:15
๐จ 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.
๐ Require federal/state licenses to issue
๐ฐ Mandate 1:1 cash/T-bill reserves
๐งพ Monthly audited reserve disclosures
๐ซ Ban rehypothecation of reserves
๐ฎโโ๏ธ Strict federal oversight & enforcement
๐ธ 100K/day fines for noncompliance
๐ Must comply with AML laws
โ๏ธ Exempts compliant coins from SEC/CFTC rules
๐ Over 10B = forced federal regulation
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