The U.S. Senate has passed the GENIUS Act, marking a significant step towards stablecoin regulation and integration into the country's financial system.
Improving Stablecoin Regulation
The GENIUS Act received approval in the U.S. Senate with a vote of 68 to 30, establishing a legal framework for stablecoins. This move may boost capital inflow and signals a shift in regulatory perspective amidst international initiatives.
Market Growth Expectations
The GENIUS Act is expected to enhance market stability by providing a regulatory structure, supporting increased international and domestic investments in digital assets. Analysts predict that the supply of stablecoins could double to over $400 billion by 2025.
Global Regulatory Examples
Regulatory measures such as Europe's MiCA and Hong Kong's stablecoin ordinance create precedence for the GENIUS Act. Experts highlight that stablecoins could reshape financial systems, drawing from historical analyses of similar previous actions.
The passage of the GENIUS Act by the U.S. Senate represents a significant step towards integrating stablecoins into traditional financial systems, which may stimulate further development and innovation in digital finance.
