CoinVoice has recently learned that on July 17, Eastern Time, the U.S. Congress passed the (GENIUS Act), marking the official establishment of the first federal-level regulatory framework for stablecoins in the United States. From the process of the bill's advancement, after the passage of the 'Too Big to Fail Act,' cryptocurrency legislation was quickly listed as a top priority on the House's agenda, and Trump personally advocated for consensus within the Republican Party, highlighting the priority position of the cryptocurrency sector in the U.S. policy framework.
From the content of the bill, the House did not make substantial modifications to the version passed by the Senate, still retaining a relatively loose regulatory framework dominated by the federal level and supplemented by state levels. Looking ahead, as the regulatory details of the (GENIUS Act) are implemented, major financial and technology companies in the United States are expected to accelerate their entry, promoting the rapid expansion of stablecoins from issuance to application scenarios, which may lead to a continuous expansion of the stablecoin market scale. [Original link]
