Trump Crypto Czar Calls GENIUS Act Passage a Landm

David Sacks has praised the Senate’s passage of the GENIUS Act, stating that it enhances consumer protection and strengthens the U.S. dollar’s dominance.

On Monday, June 17, the U.S. Senate passed the bipartisan Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, marking a crucial step in regulating payment stablecoins. 

This landmark legislation provides a comprehensive framework for using and issuing stablecoins. The GENIUS Act now heads to the House of Representatives for further consideration, where it could move closer to becoming law.