US Senator Lummis has announced his support for the GENIUS Act to regulate the stablecoin market

U.S. Senator Cynthia Lummis said that the GENIUS Act aims to strengthen the supervision of the stablecoin market, and the core content includes: requiring all stablecoins to achieve a 1:1 full reserve, guaranteeing consumer priority rights in the event of bankruptcy, and establishing strict marketing activity compliance standards.