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Elliptic's post covers its passage in the Senate.",[1036],{"title":1037,"slug":1038},"GENIUS Act","genius-act",[1040],{"title":798,"slug":799},{"title":1042,"textBlock":1043,"categoryFaqs":1045,"categoryTopics":1047},"Who does the GENIUS Act affect?",{"rawHtml":1044},"It primarily affects stablecoin issuers and the banks and firms that handle stablecoins, by setting standards for which stablecoins are permitted under federal law.",[1046],{"title":1037,"slug":1038},[1048],{"title":798,"slug":799},[1050,1060,1070,1078,1088],{"title":1051,"textBlock":1052,"categoryFaqs":1054,"categoryTopics":1058},"What is indirect sanctions exposure?",{"rawHtml":1053},"Indirect exposure is risk that arises when funds are connected to a sanctioned entity through one or more intermediate transactions, rather than coming directly from them. It can still create compliance risk even several hops away.",[1055],{"title":1056,"slug":1057},"Indirect Exposure","indirect-exposure",[1059],{"title":715,"slug":802},{"title":1061,"textBlock":1062,"categoryFaqs":1064,"categoryTopics":1068},"Why do ruble-backed stablecoins make this important?",{"rawHtml":1063},"They can carry value linked to sanctioned Russian actors, so a firm can become exposed without transacting with a sanctioned party directly. 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