The new United States stablecoin bill, known as the “Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act,” is a big move for safeguarding blockchain innovation in the US.
If the bill goes through, it could propel the US past other jurisdictions—particularly Markets in Crypto-Assets Regulation in Europe—that have traditionally outpaced the US when it comes to enacting clear regulatory frameworks for crypto.
However, it’s far too easy to think that on day one after this bill passes, crypto exchanges, financial firms, and even companies like Amazon, X, and Meta will be immediately encouraged to increase their participation in the stablecoin landscape.