#Write2Earn The American sprint 🇺🇲 towards new currencies that will rewrite savings. ANALYSIS | COMMENTS | SCENARIOS - Monday, July 21, 2025 $stable
With the approval of the first federal law on stablecoins, there is a restructuring of savings, with new balances between old and new finance, in addition to the attempt to revive the dollar. The signal to China and the path of Europe towards the digital euro.
07/19/2025
The path was unofficially opened two months ago in Las Vegas. When, during the cryptocurrency conference, the American government, represented by Vice President J.D. Vance, indicated the new frontier of the United States: a market tailored for next-generation currencies. Thus, both stablecoins, currencies pegged to the value of the dollar, and cryptocurrencies, namely the universe dominated by Bitcoin. In these hours, the first drumroll has arrived from Washington.
The House of Representatives approved the Genius Act with 308 votes in favor and 222 against, the first federal legislative measure in American history to regulate stablecoins. What is it about? The text, cross-party supported also by Democratic representatives, aims to ensure clear rules and greater transparency in a rapidly growing sector, but so far poorly regulated. More specifically, the bill, which now goes to President Donald Trump for final signature, also expands the powers of the Commodity Futures Trading Commission (Cftc), responsible for overseeing compliance with the new rules. Attention, the news is richer than expected.
Alongside the regulation on stablecoins, the House has approved two other key measures: the Digital Asset Market Clarity Act of 2025 and the Anti-Cbdc Act, aimed at preventing the Federal Reserve from issuing a digital currency, which passed by a narrower margin (219 to 210). After some delays related to internal tensions within the conservative front, the three texts have passed procedural scrutiny and now two of them move to the Senate.
At this point, the question is: how will the American savings market change, one of the most, if not the most, important in the world? Here, too, a premise must be made, which is also a first conclusion. The approval of the Genius Act undoubtedly represents a turning point also in terms of systemic adoption of stablecoins in American and global finance. Thanks to the peg to the dollar, these assets acquire the characteristics of a true digital quasi-currency, suitable for micro-transactions and instant payments. Giants like Walmart and Amazon, it is not by chance, are looking with interest at the possibility of issuing their own stablecoins, with the aim of reducing costs related to credit card fees.
Washington's acceleration towards the creation of an ecosystem for virtual currencies but linked to the greenback could give financial markets the pretext to start moving funds into stablecoins, rather than cash, to achieve quicker settlements and lower costs. This could radically change the way payments are made and processed in the United States, putting pressure on traditional payment networks. In short, there would be an inevitable erosion of traditional finance.
And Europe? And China? What will they do in the face of the American leap in the field of crypto assets? It is always worth remembering the geopolitical implications behind the game for new generation currencies. With the dollar in a state of acute anemia, for the U.S. playing the card of virtual currencies can be a good way to revive the greenback: because if the issuance of stablecoins increases, tied to the American currency, then the latter can benefit from it. And, above all, it can appreciate against the yuan, which China has now transformed into a digital version. This is also a challenge for the United States. In the background remains Europe, still quite timid about virtual currencies. But very determined about the digital euro. The great race for new currencies has just begun.