Recent days have seen significant developments in the cryptocurrency world. Trump has secured Republican support for the GENIUS Act, Ripple is ramping up its efforts, and Solana has increased its market share in real-world assets.
Trump Backs GENIUS Act
On July 15, former U.S. President Donald Trump announced on Truth Social that he had met with 11 out of 12 lawmakers needed to advance the GENIUS Act. The meeting took place in the Oval Office, with all attendees expressing support for the bill's procedural rules. House Speaker Mike Johnson also joined the discussion via phone, expressing eagerness to move the legislation forward swiftly. The GENIUS Act aims to establish a comprehensive regulatory framework for stablecoins in the U.S., including monthly reserve disclosures and bankruptcy protections.
Ripple Expands RLUSD in Europe
Ripple is ramping up global expansion with dual strategies for its RLUSD stablecoin and native token XRP. The company has applied for an Electronic Money Institution (EMI) license in Luxembourg to align RLUSD with the EU's upcoming MiCA regulations. In the U.S., Ripple is seeking federal regulatory clarity by applying for a national bank charter from the OCC and a Fed master account via a subsidiary, laying the groundwork for a global-grade stablecoin settlement network.
Solana's Market Share in Real-World Assets
Solana's Real World Asset (RWA) ecosystem (excluding stablecoins) has surged in 2025, with on-chain RWA assets surpassing $418 million—a 140.6% YTD increase. This rapid expansion has significantly narrowed the gap with leading chains. Solana now hosts various RWA projects, including tokenized U.S. equities and Treasuries. Thanks to its high throughput, near-zero transaction costs, and a vibrant developer community, Solana continues to attract new RWA deployments and capital inflows.
The impact of these events on the market could be significant. The advancement of the GENIUS Act may establish clear rules for stablecoins in the U.S., Ripple's expansion in Europe strengthens its position on the international stage, and Solana's growth in the RWA sector confirms institutional interest.
