Recently, the USA passed a stablecoin law that sets clear federal norms and principles for their creation and regulation.
Contents of the New Stablecoin Law
The law, known as the GENIUS Act, introduces strict compliance requirements for banks and authorized issuers. This will form the basis for regulating stablecoin operations in the country.
Expert Opinion on the Reform
Scott Bessent described the law as a pivotal step toward modernizing the financial system, stating that blockchain will power the "next generation of payments."
Impact on the US Financial System
At the signing ceremony, President Trump called the bill "one of the most transformative financial laws since the internet era." The new law suggests that stablecoins can fully unleash their potential while maintaining the dollar's role as the world’s reserve currency.
The new stablecoin law in the USA may significantly influence the future of digital currencies and the country's financial system by providing clearer rules and aligning innovation.
