TradingKey – On Thursday, July 17, the U.S. House of Representatives passed three major cryptocurrency bills, including the landmark GENIUS Act, which has already cleared the Senate. The bill now heads to President Donald Trump’s desk, with his signature expected Friday, marking the first federal legislation to regulate stablecoins.
The GENIUS Act — short for Guiding and Establishing National Innovation for U.S. Stablecoins — lays out clear standards for the issuance, circulation, and oversight of dollar-pegged digital currencies. It’s a major win for the crypto industry and a defining moment for U.S. financial innovation.
The rise of stablecoins is being viewed as a direct challenge to traditional payment systems, prompting major banks to rethink their strategies:
Meanwhile, fintech and crypto-native firms like Tether, Circle (CRCL), Coinbase (COIN), and Binance continue to dominate the space. Even Visa and PayPal have entered the stablecoin arena, signaling a broader shift toward digital money.
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