On July 19, 2025, U.S. Treasury Secretary Scott Bessent announced the launch of the GENIUS Act, bringing the U.S. dollar on-chain.
Launch of GENIUS Act
The GENIUS Act represents a significant regulatory change that will impact financial markets and payment systems. This legislation aims to enhance the stability of the U.S. dollar in digital finance.
New Stablecoin Framework
The enactment of the GENIUS Act introduces a federal framework for stablecoins in the U.S. Scott Bessent emphasized that the dollar now has a secure and transparent payment system, providing clear regulations to support market growth into a multitrillion-dollar industry.
Comparison with EU's MiCA Regulation
The GENIUS Act sets a precedent for stablecoin regulation at the federal level in the U.S., similar to the EU's MiCA legislation. This could lead to increased issuance and institutional interest, as historical trends suggest regulatory clarity boosts stablecoin issuance and adoption.
The launch of the GENIUS Act marks an important step towards the digital transformation of the U.S. dollar and could lead to significant growth in the stablecoin market.
