The recent signing of the GENIUS Act regarding stablecoin regulation in the US has sparked a wave of positive reactions among key players in the crypto industry, including Ripple.
The GENIUS Act and Its Significance
The GENIUS Act introduces national standards for stablecoins, requiring full asset backing and compliance frameworks for issuers. The launch of this law has been a significant victory for the digital asset sector.
Crypto Industry Reactions to the Bill
Ripple’s chief legal officer Stuart Alderoty described the bill as a long-overdue structure that benefits both innovators and consumers. Coinbase CLO Paul Grewal also expressed support, noting that clear stablecoin rules could reinforce the dollar's dominance in the evolving global finance system.
Political Context and Future of Regulation
The passage of this bill follows months of political engagement by crypto firms and a noticeable shift in tone from President Trump, who now appears to view digital assets as strategically important. This event may mark a potential reset in Ripple's ongoing battle for regulatory legitimacy.
The signing of the GENIUS Act represents a key step toward clearer stablecoin regulation, demonstrating the growing interest of the US government in digital asset issues.
