While memecoins are shaking up the market, the U.S. Congress has made a surprising power move: in May, senators introduced and advanced the GENIUS Act, a bill that sets regulatory standards for stablecoin issuers.
According to the bill, anyone issuing a dollar-pegged digital currency must hold full reserves in liquid assets and comply with AML/KYC procedures. The initiative has already received bipartisan support — a rare event in U.S. politics.
Experts are calling this a sign of the crypto market’s “coming of age.” For the first time in history, we may see a clear, federally recognized regulatory framework for digital assets — a development that could fundamentally shift the balance of power in the crypto world.
