GENIUS Act Passes As Stablecoin Rules Head To The White House
Main Idea
The U.S. House passed the GENIUS Act, providing regulatory clarity for corporate-issued stablecoins, marking a significant shift in digital payments and financial infrastructure.
Key Points
1. Stablecoins processed $33 trillion in transaction volume over the past 12 months, surpassing PayPal and nearing ACH volumes.
2. Stablecoins hold $128 billion in U.S. Treasuries, potentially growing to $3.7 trillion by 2030, making issuers major U.S. debt holders.
3. Major companies like Amazon and Walmart are exploring launching their own stablecoins to streamline payments and reduce costs.
4. The GENIUS Act is compared to the Telecom Act of 1996, expected to spur innovation and adoption of stablecoins by corporations and banks.
5. Global regulators, including the Financial Stability Board, recognize stablecoins as fundamental to future payments, beyond speculative use.
Description
The U.S. just passed the GENIUS Act, creating the first federal rules for stablecoins—unlocking programmable money for banks, fintechs, and Fortune 500s.
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