The Senate has passed the GENIUS Act with overwhelming bipartisan support. This historic legislation establishes the first federal framework specifically for stablecoin regulation. Under the new law, only licensed banks can issue dollar-backed digital currencies. These banks must maintain complete asset reserves, submit monthly reports, and undergo annual audits. This will likely shape the future of the digital currency landscape in the United States. The passage of the GENIUS Act represents a crucial step towards formalizing the crypto market and could transform how digital assets are managed in the future.