The U.S. GENIUS Act, advancing in the Senate, could drive broader adoption of stablecoins by offering regulatory clarity. Major firms such as Bank of America, Morgan Stanley, and international banks are exploring launching their own stablecoins.

The GENIUS Act is a proposed bill that regulates one type of cryptocurrency called stablecoins, a $200 billion part of the multi-trillion-dollar cryptocurrency system. The bill’s name stands for Guiding and Establishing National Innovation for U.

The GENIUS Act (S. 1582), legislation that aims to provide regulatory clarity for stablecoins, is expected to head to a floor vote in the US Senate tomorrow.

The Senate is poised to pass the GENIUS Act regulating stablecoins, a key form of cryptocurrency, aiming to increase legitimacy and consumer confidence. The bipartisan bill faces criticism for not addressing President Trump's financial involvement in crypto.

Stablecoins are the focus of the GENIUS Act, but if the bill is enacted into law, it will likely have an impact on U.S. citizens’ ability to use Bitcoin privately. While the GENIUS Act is a stablecoin bill, U.S.-based Bitcoin enthusiasts should be paying ...

US could be the epicenter for stablecoins with the proposed GENIUS Act, making them a mainstream financial rail for the internet, says Bernstein.

The GENIUS Act "makes it prohibitive for non-financial public companies to become stablecoin issuers," Bernstein said, noting recent reports that said Amazon and Walmart were exploring using these cryptocurrencies.