BlockBeats News, on July 20, reported that Jesse McWaters, Global Policy Lead at Mastercard, stated that the United States has reached a 'turning point' in stablecoin regulation and digital asset adoption. The passing of the Genius Act serves as a catalyst for institutional participation, marking a 'new era of clarity and confidence in digital asset regulation.' This act allows regulated entities (including banks and enterprises) to issue dollar-backed stablecoins, provided they meet strict reserve, disclosure, and compliance requirements. This is the first cryptocurrency-specific legislation in the United States to become law.