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This summary text is fully AI-generated and may therefore contain errors or be incomplete.
This summary text is fully AI-generated and may therefore contain errors or be incomplete.
US lawmakers have taken significant steps toward blockchain regulation, advancing the GENIUS Act for Senate debate and reintroducing the Blockchain Regulatory Certainty Act in the House. These bills aim to establish stablecoin standards and provide regulatory clarity for non-custodial blockchain developers.
- The GENIUS Act mandates stablecoin issuers to maintain 1:1 reserves in US Treasuries or insured deposits and comply with strict KYC/AML rules.
- The Blockchain Regulatory Certainty Act creates a safe harbor for non-custodial blockchain developers, exempting them from money transmitter licensing.
- Both bills enjoy bipartisan support, with the GENIUS Act passing a 69–31 Senate motion and the House bill backed by Reps. Emmer (R) and Torres (D).
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