With this week's indictment of Crypto Bro Iurii Gugnin on half-billion-dollar money laundering, sanctions and export control charges, along with the release of revised and greatly loosened enforcement guidelines for the Foreign Corrupt Practices Act, we wanted to check in on the progress Congressional sponsors have made with the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act (S. 1582), which aims to establish the first federal regulatory framework for payment stablecoins.
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