Senator Lummis announces support for the GENIUS Act to regulate the stablecoin market

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PANews
05-07
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PANews reported on May 7th that U.S. Senator Cynthia Lummis stated that the GENIUS Act aims to strengthen regulation of the stablecoin market, with core provisions including: requiring all stablecoins to maintain 1:1 full reserve backing, guaranteeing consumer priority rights in case of bankruptcy, and establishing strict market promotion compliance standards.

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