.jpg)
So, the Senate just gave a big thumbs-up to a new bill about stablecoins. If you’re wondering what stablecoins are, they’re basically crypto coins that try to keep things steady usually by linking themselves to the U.S. dollar. Unlike Bitcoin’s wild ups and downs, stablecoins are supposed to chill and stay stable.
The vote was 66 to 32, which is kinda surprising these days because it’s rare to see that many folks agreeing on something. Basically, what the bill wants is to make sure these stablecoin companies aren’t just playing pretend. They have to actually have real cash or safe government bonds backing every coin they put out. No sketchy stuff. Plus, they want regular check-ins like audits so everything stays clear and honest.
Imagine the government saying, “If you wanna run stablecoins, show us the money and be cool if we peek at your books now and then.”
Not everyone’s thrilled though. Senator Elizabeth Warren’s throwing some shade, worried the bill might let some shady crypto players slip through. She even hinted it ties into some of Trump’s crypto plans yeah, that adds some drama.
Right after the Senate gave the okay, Bitcoin jumped almost 2%, cruising past $105,000 like it owned the place. Ethereum, XRP, Solana they all jumped too. People seem hopeful that clearer rules might calm the usual crypto craziness and bring a little peace of mind.
Now, the bill still has to get through the House and then be signed by the President before it’s official. But it’s a big step in the right direction.
Why should you care? Well, if you’ve ever thought about trying out crypto or just wondered if digital money’s here to stay, this could make stablecoins safer and easier to trust. Maybe one day soon, using crypto to pay for stuff like your coffee or rent won’t feel like a wild gamble.
So yeah, it’s not just politics it’s about how we might handle money going forward.
Reference:
Sources: Axios – Senate advances stablecoin bill | Coindesk – What the GENIUS Act means for crypto | Business Insider – Elizabeth Warren criticizes crypto bill | Barron’s – Bitcoin jumps after Senate vote | CBS News – Senate moves forward on stablecoin regulations