U.S. Advances GENIUS Act to Modernize Stablecoin Regulations – Coincu

Bo Hines, Executive Director of the President’s Digital Asset Advisor Council, announced the GENIUS Act on May 16 to regulate stablecoins, enhancing U.S. financial systems.

The GENIUS Act seeks to boost stablecoin use, maintaining dollar dominance and invigorating U.S. digital asset markets.

GENIUS Act: A Catalyst for U.S. Financial Modernization

Bo Hines emphasized the GENIUS Act will modernize U.S. financial systems by regulating stablecoins like USDT and USDC. The bill ensures these assets comply with rigorous Anti-Money Laundering (AML) standards, encouraging institutional investment.

Stablecoins promise game-changing financial transparency, while changes in regulation could lead to more investment in projects involving Ethereum and DeFi protocols. This policy shifts fund transfers, helping American financial systems become more transparent and low-cost.

Market actors remain cautiously optimistic. Bo Hines’s statement that “The United States is ready to lead this transformation” underscores broad industry support. Bipartisan consensus in Congress reflects confidence in stablecoins’ regulated future, asserting U.S. leadership in global finance.

Stablecoin Statistics and Long-Term Economic Implications

Did you know? Moves to regulate dollar-backed stablecoins previously enhanced their institutional acceptance in the U.S., leading to increased issuance and greater financial ecosystem participation.

Tether USDt maintains its $1.00 value with a market cap of $151.06 billion and a 4.55% market dominance, according to CoinMarketCap. The stablecoin saw minor price shifts over various periods, including a 0.01% increase in the last 30 days. Its 24-hour trading volume decreased by 7.92%, totaling $77.12 billion. The circulating supply stands at over 151 billion as of May 16, 2025.

Experts from Coincu suggest that by fostering a more structured regulatory environment, the GENIUS Act could propel U.S. economic leadership and catalyze the development of innovative blockchain technologies, ensuring system integrity and market appeal on a global scale.