Sergey Nazarov: GENIUS Act to Unleash Stablecoin Wave, Chainlink Poised to Power Growth
Sergey Nazarov, CEO of Chainlink, believes that the recently passed GENIUS Act in the U.S., a landmark stablecoin regulation bill, will trigger an explosion of new stablecoins both domestically and globally. The bill, which passed the US Senate by a 68-30 vote this Tuesday and now heads to the House of Representatives, aims to establish a clear legal framework for stablecoin issuers, potentially enhancing their legitimacy and accelerating wider adoption.
Nazarov emphasized, via his official X profile, that Chainlink's Proof of Reserves and cross-chain connectivity will become essential requirements for these emerging stablecoins. These functionalities are crucial for ensuring the transparent backing of tokenized funds and enabling seamless operations within the growing digital asset economy as stablecoins increasingly serve as a source of payment. Chainlink's ecosystem provides a unified solution, allowing for the seamless deployment and management of all necessary services including reserves verification, critical cross-chain interoperability, and compliance features all via a single workflow code.
