Polymarket forecasts a high likelihood of stablecoin legislation in the US following recent Senate votes.
Polymarket Predictions on the GENIUS Act
On June 19, Polymarket, an American prediction platform, rated the GENIUS Act with an 89% chance of passing both houses of Congress. The platform also predicted that the president would sign it into law by 2026.
Support and Controversies Among Legislators
It remains unclear if there will be enough support in the House for the bill in its current form. Several senators opposed a similar change before the final vote, which raises concerns. President Trump indicated he would sign the bill 'with no add-ons' if it passes swiftly.
New Level of Regulation for Crypto Assets
Another significant legislative move was the approval of the Digital Asset Market Clarity (CLARITY) Act by the House Financial Services Committee. Congressman French Hill emphasized that it is a crucial step towards the future of Web3 and tokenized payments in the financial sector.
If both the GENIUS and CLARITY Acts are approved, they could significantly alter cryptocurrency regulations in the US, strengthening the country's position in the global financial landscape.
