US ‘Crypto Tsar’ “Passage of Genius Act in Senate is a Victory for the Cryptocurrency Community”

Crypto Czar David Sachs Leading Progress In Pro-Cryptocurrency Policy (Source: NYT)

The U.S. White House Digital Asset And AI Policy Director, The So-Called ‘Crypto Czar’ David Sachs Evaluated The Senate Passage Of The Stablecoin Regulation Act ‘GENIUS’ As “A Major Victory For The Cryptocurrency Community And Trump Policy.” He Stated This In An Interview With Fox Business On The 20th (Local Time).

The GENIUS Act Includes ▲Mandatory License Registration For Stablecoin Issuers ▲100% Reserve Holding ▲Annual Audit For Issuers Over $50 Billion Market Cap ▲Application Of Regulations To Overseas Issuers.

Currently, The Bill Only Awaits The House Vote Procedure And President Donald Trump’s Signature.

Sachs Emphasized, “This Legislation Is A Strategic Measure To Simultaneously Ensure The Safety And International Competitiveness Of Dollar-Based Stablecoins,” And “Clearly Demonstrates The Direction Of The Trump Administration's Leadership In The Future Of Cryptocurrency And AI.”