Jacob King
Jacob King|Jun 17, 2025 11:15
🚨 BREAKING: The U.S. Senate votes TODAY at 4:30 PM ET on the GENIUS Act — a landmark stablecoin bill. If it passes, it could mark the beginning of the end for Tether in the U.S., imposing strict reserve, audit, and regulatory requirements. 🔒 Require federal/state licenses to issue 💰 Mandate 1:1 cash/T-bill reserves 🧾 Monthly audited reserve disclosures 🚫 Ban rehypothecation of reserves 👮‍♂️ Strict federal oversight & enforcement 💸 100K/day fines for noncompliance 📜 Must comply with AML laws ⚖️ Exempts compliant coins from SEC/CFTC rules 📉 Over 10B = forced federal regulation
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