The US Senate approved the GENIUS Act aimed at stablecoin regulation. This could lead to major changes in the cryptocurrency landscape.
GENIUS Act Secures Senate Approval
The GENIUS Act has been passed by the U.S. Senate with bipartisan support, emphasizing its significance for the regulation of stablecoins. President Trump has expressed support for the swift passage, highlighting the need for clarity in this sector.
Potential $20 Trillion Boost from Institutional Finance
The new legislation is expected to attract institutional finance, potentially increasing crypto market valuations by $15-20 trillion. Market participants express optimism about the upcoming changes.
GENIUS Act Could End Crypto Regulatory Fragmentation
Historically, U.S. cryptocurrency regulation has been fragmented, leading to market instability. The GENIUS Act aims to create unified federal standards that can improve investor confidence and market activity.
The passage of the GENIUS Act may be a pivotal step towards organizing the American cryptocurrency market, ensuring consumer protection and enhancing market transparency.
