The GENIUS stablecoin bill is regarded as an important innovation in cryptocurrency policy, with its core focus on enhancing the transparency, compliance, and financial accessibility of stablecoins. The bill requires stablecoin issuers to hold equivalent reserves and undergo regular audits, which helps to increase user trust and reduce potential systemic risks. At the same time, it allows regulated banks and fintech companies to participate in issuance, bridging traditional and digital finance. However, the bill may also increase compliance pressure on small developers, limiting the space for innovation. Overall, the GENIUS bill marks a significant step towards regulatory clarity and market stability, which will have a profound impact on the mainstream adoption of stablecoins and their applications in cross-border payments.