🧠 Stablecoin Shake-Up? ‘GENIUS Act’ Inches Toward Law—Is USDC Next?
In a significant development for the digital asset space, the U.S. Congress has moved the ‘GENIUS Act’—a proposed bill focused on regulating stablecoins—into the revision stage after a decisive debate. According to BlockBeats, the act passed a critical motion with a vote tally of 69 in favor and 31 against, marking a major legislative step toward formal oversight of the $100+ billion stablecoin market.
The GENIUS Act, short for Government-Enabled National Infrastructure for Unifying Stablecoins, aims to establish a comprehensive framework for issuing and managing U.S.-based stablecoins, with a focus on transparency, reserve standards, and consumer protections.
Crypto journalist Eleanor Terrett confirmed the bill’s advancement, noting that bipartisan momentum is building as lawmakers increasingly recognize stablecoins' systemic importance and potential risks. The upcoming revision stage will likely focus on fine-tuning the technical language, defining reserve asset requirements, and clarifying the roles of both federal and state regulators.
Why It Matters:
Market Implications: The GENIUS Act could bring long-awaited regulatory clarity to stablecoin issuers such as Circle and Paxos, while possibly forcing changes at platforms like Tether.
Investor Confidence: Formal legislation may increase trust in regulated stablecoins, encouraging wider institutional adoption.
Global Benchmark: If passed, the act could position the U.S. as a global leader in stablecoin regulation—setting standards other countries might follow.
With the crypto industry closely watching Washington, the GENIUS Act’s trajectory may significantly shape the future of digital dollar-backed assets. All eyes now turn to the committee rooms, where the next phase of negotiation and refinement begins.
