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What to know about the GENIUS Act, a crypto regulation bill

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Summary
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70% Informative

The Senate voted 66 -22 late Monday to advance the GENIUS Act , a bill that aims to regulate some cryptocurrencies.

The bill concerns the issuance and exchange of stablecoins, a form of digital currency backed by another form of currency like the U.S. dollar or a commodity like gold.

Critics say the bill fails to address conflict-of-interest concerns exemplified by Trump 's dealings in stablecoins.

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78

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81

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formal

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English

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58

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