The American Senate voted 68-30 Wednesday to invoke fence on the Act on Engineering, a bill of stable, paving the way for a final vote scheduled for next Monday.
If adopted, the bill could define the first national regulatory framework for stablecoins in the United States.
The act of genius – shorts for the Guide and establish national innovation for American stablecoins– Discover stable issuers to maintain reserves at 100%, submit to annual audits if they hold more than $ 50 billion in market capitalization and adhere to the rules for foreign issuers.
It could serve as a reference for the regulation of stablescoin in the American financial system.
The head of the majority of the Senate, John Thune, spoke in favor of the bill, corresponding to the position of President Donald Trump on digital assets. “We want to bring cryptocurrencies in the dominant current, and the law on genius will help us to do so,” said Thune.
However, not all legislators were on board. Senator Elizabeth Warren criticized the bill for not having addressed bipartite amendments and warned against political risks linked to Trump’s cryptographic transactions.
“By adopting the law on genius, the Senate is not only about to bless this corruption, but to actively facilitate its expansion,” she said, referring to Trump’s ties with a cryptographic platform supported by his family.
“Shift Pivot” of the crypto
Industry leaders say the bill could unlock a new institutional participation. Yuval Rooz, CEO of the company Blockchain Digital Asset, described it as “pivotal change” in cryptographic regulations.
“The adoption of the Act on Engineering marks a long -awaited passage of regulations by applying to regulations by clarity,” said Rooz in a note obtained by Crypto.News. “It provides banks with a clear framework to engage with confidence with stablescoins, unlock strategies in standby by guaranteeing complete reserves, regular audits and substantial protection of consumers.”
Rooz stressed that “regulations alone are not enough”, stressing the importance of privacy and control. “These are not optional characteristics; they are fundamental to institutional trust,” he added.
While the Senate is preparing for the final vote on Monday, the fate of the genius law could shape the future of American cryptography policy – and influence the way stablecoins are used in traditional and decentralized finances.
