US Cryptocurrency Legislation Promotes $4 Billion Surge in Stablecoins Supply

According to a report by Golden Finance, Cointelegraph revealed that the ink on the GENIUS bill is still wet, and its ripple effect is already evident throughout the entire cryptocurrency industry. In just seven days, the industry has added nearly $4 billion in funding, driving the market value of stablecoins to exceed $264 billion and stimulating interest from businesses in related investments. This surge is not surprising. This milestone legislation provides a federal framework for banks, asset management companies, and other institutional investors to issue stablecoins backed by fiat currencies without facing the imminent threat of enforcement action by the US Securities and Exchange Commission (SEC). Along with regulatory clarity comes new capital, new participants, and more intense competition. Even before the promulgation of the GENIUS Act, signs of this transformation had already emerged.