Milestone benefits for stablecoins may arrive within 30 hours!
If the Genius Act really passes, crypto-related stocks may significantly rise in the short term. Circle has increased by 47% since its IPO on June 5, with the market cap of stablecoins surpassing $263.7 billion.
Does this indicate that the upcoming Genius Act on the 11th can indeed pass smoothly? On the 11th, the U.S. Senate will conduct a key vote on the guidance and establishment of the 2025 U.S. National Innovation Act for Stablecoins, also known as Genius.
This act aims to establish the first federal regulatory framework for the U.S. dollar and stablecoins. It clarifies reserve requirements, auditing standards, and anti-money laundering compliance. Senate Majority Leader John submitted a motion to terminate the debate on June 9.
A 30-hour countdown has begun; the next 30 hours are extremely critical for Web3, stablecoins, and virtual currencies! Recently, on May 19, the act passed procedural voting with a vote of 66 to 32, showing bipartisan support, but it requires 60 votes to overcome obstruction. Let's adopt the most optimistic outlook.
If the Genius Act really passes, crypto-related stocks like Circle, Coinbase, and these blockchain companies may see significant increases in the short term. The U.S. is eagerly looking to rely on crypto stablecoins for survival.
