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Senate Advances Stablecoin Regulation as Tech Firms Weigh Crypto Payments

Passage of the GENIUS Act could trigger a surge in demand for Treasury bills tied to digital tokens alongside fresh scrutiny of presidential family profits

Overview

  • The GENIUS Act cleared a key Senate procedural vote and is now awaiting a final floor decision to establish federal rules for dollar-backed stablecoins.
  • The legislation requires monthly reserve disclosures, anti-money laundering safeguards and legal priority for stablecoin holders in the event of issuer failure.
  • Trump family-owned World Liberty Financial’s USD1 stablecoin underscores potential conflicts of interest in the emerging market.
  • Analysts predict the market could grow from $247 billion today to $2 trillion by 2028 and drive increased purchases of short-term U.S. Treasuries.
  • Apple, X, Airbnb and Google are in early discussions to integrate stablecoins into their payment platforms to reduce transaction costs.