GENIUS Act: The Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act is progressing through the US Senate. This bill aims to establish clear rules for collateralization and Anti-Money Laundering compliance, which could pave the way for greater institutional adoption.
Circle's Public Debut: Circle recently made a strong debut on the New York Stock Exchange, with shares jumping 167% on its first trading day, indicating significant investor interest.
Tether's Stance: In contrast, Tether, the issuer of the rival stablecoin USDT, has stated its intention to remain a private company for the foreseeable future.
Bank Interest: Firms associated with major banks, including JPMorgan, Bank of America, Citigroup, and Wells Fargo, are reportedly exploring a joint stablecoin initiative.
