[Bitcoin whale’s $9.6B transfer, GENIUS Act spark correction concerns]
An OG Bitcoin whale’s $9.6 billion transfer and the stablecoin audit requirements imposed by the GENIUS Act are sparking correction concerns among some industry watchers.

<p><img src="https://static.fwimg.io/img/1px.png" alt="Bitcoin whale’s $9.6B transfer, GENIUS Act spark correction concerns"></p><p>An OG Bitcoin whale’s $9.6 billion transfer and the stablecoin audit requirements imposed by the GENIUS Act are sparking correction concerns among some industry watchers.</p>

Bitcoin whale’s $9.6B transfer, GENIUS Act spark correction concerns

According to Reuters, the U.S. House of Representatives passed the groundbreaking <GENIUS Act> on Thursday with a decisive vote of 308:122, marking the first time Congress has approved comprehensive stablecoin legislation and sending this historic bill to President <Donald Trump> for signature.

The bill establishes a federal regulatory framework for the $250 billion stablecoin market, requiring issuers to maintain 100% high-quality liquid asset reserves, undergo monthly audits, and register with federal or state regulatory agencies. The bill received strong bipartisan support, with a total of 2...

House passes GENIUS Act to establish federal framework for stablecoins

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XRP set an all-time high on Thursday as old-school cryptocurrencies Ethereum Classic, Litecoin, and Bitcoin Cash also saw notable gains.