Overview
- The GENIUS Act passed July 18 obliges stablecoin issuers to back tokens with cash and short-term Treasuries and publish reserve breakdowns each month.
- Congress also approved the CLARITY Act to define SEC and CFTC oversight and the Anti-CBDC Act banning any Federal Reserve digital dollar, both awaiting final enactment.
- Europe’s MiCA framework remains active without authorizing any stablecoins as Brussels prepares guidelines to treat foreign-issued tokens as domestic.
- U.S. institutional funds including BlackRock, Fidelity and Invesco now hold about 25 percent of circulating Bitcoin, helping to moderate its volatility.
- Global crypto valuation has surged to roughly $4 trillion and Bitcoin trades near record highs following the new U.S. regulatory clarity.