The U.S. "GENIUS Act" passes the Senate: stablecoins welcome regulatory framework, related tokens strengthen in the short-term.

On June 18, the U.S. Senate voted 68 in favor and 30 against to pass the GENIUS Act, which is the first federal bill to cover stablecoin reserve requirements, consumer protections, and anti-money laundering regulations. The bill, which clearly stipulates that stablecoins must maintain a 1:1 full reserve and will be jointly supervised by the Treasury Department and the Federal Reserve, has now been referred to the House of Representatives for consideration. Notably, while the bill does not impose restrictions on the president's family's participation in the stablecoin business, Democrats still question it — the Trump family made more than $57 million last year from issuing stablecoins through World Liberty Financial. Affected by this favorable policy, the project tokens related to stablecoins have strengthened in the short term. It is widely expected that the clarity of the regulatory framework will attract more institutional capital to the market, thereby improving short-term market liquidity conditions.

Analyst advice: The GENIUS Act marks the beginning of the first year of stablecoin regulation, which will clear the way for compliant funds to enter the market. In the short term, we can focus on the favorable policies of related platform tokens (such as MKR, CRV, COMP). However, it should be noted that the bill still needs to be voted on by the House of Representatives, and if the review process is delayed or vetoed, it may affect the expected increase in the market.