Overview

• The GENIUS Act, signed into law on July 18, introduces federal licensing and oversight for stablecoin issuers and mandates 1:1 fiat reserve requirements.
• Agencies including the Treasury and SEC are charged with mapping out disclosure rules and audit processes to ensure transparency and consumer protection.
• Market leaders such as Circle and Stripe, alongside traditional banks and retail companies, are positioning stablecoin products to capitalize on the new regulatory clarity.
• Emerging-market users in Latin America, Africa and Southeast Asia have driven early stablecoin adoption for cross-border transfers where local banking is costly or unreliable.
• High on- and off-ramping fees and network liquidity gaps continue to challenge seamless stablecoin conversions in certain regions.