The U.S. Senate's passage of the GENIUS Act propelled Coinbase and Circle shares upwards, boosting stablecoin legitimacy.

The bill reads more like a wish list from crypto lobbyists than a serious attempt at oversight. It would create a framework without teeth, with no real limits on who could issue stablecoins and no ...

The bill would require tokens to be backed by liquid assets including the US dollar and short-term Treasury bills.