Stablecoins are gaining mainstream attention, with the U.S. Congress advancing the "Genius Act" to regulate the $248 billion stablecoin market. This bill aims to provide a comprehensive framework for stablecoin issuers, reducing regulatory uncertainty and encouraging new market entrants.
Analysts believe that the bill could enhance the dollar's global standing and support broader financial system integration via blockchain technologies. Passage of the bill could prompt traditional institutions like Bank of America and Fidelity to launch stablecoins, fueling the development of tokenized financial products like bonds and equities.
