Overview

• President Trump signed the GENIUS Act into law on July 18, establishing the first federal framework for payment stablecoins
• The law tasks the Office of the Comptroller of the Currency and other federal agencies with drafting detailed stablecoin requirements within 180 days
• The CLARITY Act passed the House on July 17 and now awaits Senate consideration to clarify CFTC versus SEC jurisdiction over digital assets
• Cryptocurrency markets rallied on the regulatory clarity, with Bitcoin topping $123,000 and XRP reaching $3.66
• India and other emerging markets are weighing their own stablecoin policies to safeguard monetary sovereignty and remain competitive