The U.S. Congress has passed the GENIUS Act, awaiting President Trump's signature. This law is designed to improve stablecoin regulations and strengthen the U.S. leadership in the digital economy.
What is the GENIUS Act?
The GENIUS Act marks a significant step in the regulation of stablecoins in the U.S., proposing a dual federal-state approval system. The bill received support from President Trump, who expressed a desire to sign it as soon as possible, emphasizing the importance of blockchain innovation for the country.
Rising Compliance Costs for Stablecoins
The passage of the GENIUS Act may lead to increased compliance costs for major issuers such as USDT and USDC. New requirements are expected to stabilize flows in financial institutions, which will be closely monitored by markets and regulators.
U.S. Sets Course for Global Leadership in Digital Finance
The lack of similar federal legislation on stablecoins in the U.S. is a noticeable contrast to the European Union, where such regulation has already been implemented. Experts believe that the GENIUS Act will help the U.S. establish a stronger position in the international digital finance landscape.
The GENIUS Act represents a significant step towards establishing a robust and clear regulatory environment for stablecoins in the U.S., which may impact future initiatives in digital finance.
