Why Experts Say This GENIUS ACT US Stablecoin Bill Can Harm Everyone?

A new law passed in the United States is making other countries very worried. The US stablecoin bill, known as the GENIUS Act, may have been designed to bring order to digital dollars—but it’s now sparking global panic.

These coins are used around the world for payments, savings, and trading. But now, Europe’s biggest asset manager, Amundi, and Italy’s finance ministry, says this law might cause big problems in the global financial system, as per Whale insider latest X post .

What Is GENIUS Act Stablecoin —and Why It’s Not Just a U.S. Issue

The Act is a new bill passed by the U.S. Senate, and it's expected to be approved soon by the House of Representatives and President Donald Trump.

These currnecies are linked to the US dollar and must be backed by things like US Treasury bonds. This makes them look safe and reliable, and many people around the world may start using them.

Here’s why this matters globally:

• 98% of all stablecoins are already dollar-pegged.

• Over 80% of these tokens transactions happen outside the U.S.

• According to CoinNess Global X account , JPMorgan predicts the market could double to $500 billion in a few years—some say even $2 trillion.

$2T Amundi Warning—“It Could Be Genius, Or It Could Be Evil

In the latest stablecoin news, Vincent Mortier, Chief Investment Officer at Amundi, says the law might destabilize the way money flows across countries. He explains that if too many people in other countries start using these dollar-backed coins, it could:

• Weaken local currencies

• Reduce the power of central banks

• Create financial imbalances

• And even harm the global payment system

He warns, “It could be genius, or it could be evil.”

Amundi manages over €2 trillion ($2.36 trillion) in assets, so their opinion carries weight in the financial world—even though they don’t currently invest in crypto.

Why Are Other Countries Worried Too?

It’s not just Amundi. In US stablecoin bill news today, Italy’s Finance Minister, Giancarlo Giorgetti, said in April that the U.S. stablecoin law could be even more dangerous than former President Trump’s trade war.

He said it might allow people to access dollars without a US bank, making them depend less on their local currency. This could weaken Europe’s economy and hurt financial stability.

Why the U.S. Wins… and the World Worries

While the US pegged-crypto law may support U.S. Treasury bond demand—helping fund America’s growing budget deficit—they also pose a potential double-edged sword.

According to Mortier, if other countries feel cornered by the rise of U.S.-pegged currencies, they may reject the dollar’s dominance altogether. Ironically, the US stablecoin GENIUS Act might accelerate alternatives to the dollar if perceived as an overreach.

Final Take: Is the U.S. Stablecoin Bill a Genius Move—or a Global Threat?

Big banks like JPMorgan expect the amount of fixed value coins in circulation to double to $500 billion in the coming years. Some experts say it could even reach $2 trillion.

That’s good news for the United States because people will buy more Treasury bonds, helping the country with its big budget deficit.

The US stablecoin law might look like a smart move for the American economy—but other countries are warning that it could shake up the global financial system. The full impact is still unknown, but as this regulation shift news spreads, the world is watching closely.