New Hampshire Bitcoin Reserve Bill Nears Final Vote

The U.S. Senate is moving rapidly toward a historic vote on the GENIUS Act, which would establish the first comprehensive federal regulatory framework for stablecoin issuers. The legislation, championed by Senators Bill Hagerty, Tim Scott, and Cynthia Lummis, aims to clarify licensing and reserve requirements for institutions issuing dollar-backed digital currencies, with firms over $10 billion falling under federal oversight and smaller issuers regulated by states. The bill has drawn bipartisan support, though some, like Senator Elizabeth Warren, argue it lacks sufficient consumer protections. The anticipation of a Senate vote has already triggered notable price and trading volume increases in major stablecoins such as USDT and USDC, reflecting market optimism about regulatory clarity. Proponents argue the framework will modernize payment systems, cement U.S. dollar dominance, and foster innovation, while critics warn of potential gaps in consumer safeguards. The outcome of this legislation is expected to significantly influence both the U.S. crypto landscape and global financial markets.