#StablecoinLaw The U.S. House of Representatives has passed a historic bill on stablecoins (#GENIUSAct ), sending it to the President's desk. This could be an important step towards regulatory clarity for the crypto industry, with implications for DeFi, payments, and beyond. On the other hand, this raises questions about decentralization and compliance.
The GENIUS bill, which started in the Senate, establishes a regulatory framework to address stablecoins, cryptocurrencies whose value is tied to the value of another asset, typically the U.S. dollar.
The GENIUS Act creates a definition for payment through stablecoins; it also assigns the Federal Reserve and the Office of the Comptroller of the Currency, two of the main banking regulators in the U.S.
Market Impact:
- Market Growth: Regulation is expected to drive the growth of the stablecoin market in Europe, reaching a total value of € 450 billion by 2025.
- Institutional Adoption: Regulatory clarity may increase the adoption of stablecoins by institutional investors.
- Competition: Regulation may favor issuers of euro-backed stablecoins, increasing their market share.
