#GENIUSActPass 🟡This moment is decisive for the expansion of cryptocurrencies»: Chainlink

For the developer entity of Chainlink, stablecoins will gain more prominence following the approval of the GENIUS law. They highlight almost instant payments and 24/7 access as the main virtues of stablecoins.

From Circle, they celebrated the recent approval of the GENIUS law.

Chainlink Labs, the entity that develops and promotes the Chainlink cryptocurrency network, believes that the ecosystem of digital assets is going through a key turning point for its global growth, driven by legislative advances in the United States.

The organization classified the approval yesterday of the GENIUS bill in the Senate as «historic legislation that establishes a regulatory framework for fiat-backed stablecoins». This is a decisive moment for the digital asset industry, which is setting the stage for the global expansion of stablecoins,” they emphasized.

More than 250 billion dollars in stablecoins are currently circulating in cryptocurrency networks, consolidating these assets as one of the most solid use cases of the ecosystem, highlighted the team behind Chainlink.

According to their perspective, stablecoins are widely adopted globally due to their ability to facilitate payments in dollars with almost instant settlement, low fees, and 24/7 availability.

The organization notes that these assets will gain more relevance with the GENIUS law. This bipartisan legislation establishes a regulatory framework for projects like USDT and USDC, and seeks to position the country as a global leader in financial innovation.