Ah, the GENIUS Act—a moniker that promises to light up the crypto landscape, much like a faulty sparkler on a damp night. It’s the U.S. Senate’s latest flirtation with reality, propelling the stablecoin universe into what some are calling a new era. The kind of era where U.S.-regulated issuers might just have a head start, or perhaps, a slow jog while the rest of the world sprints ahead. You know, details.
Paul Grewal, Coinbase’s Chief Legal Officer, seemed more enthusiastic than your uncle at a family BBQ over this monumental “watershed moment.” In a tweet, full of enthusiasm bordering on existential relief, Grewal mused, “Today we are going to see the United States Senate pass major crypto legislation with bipartisan support. A year ago I would’ve thought this at best was a fever dream. Think for a moment on how far we’ve come.” Ah, yes. From fever dream to reality, where dreams are taxed and regulated. 🍷
Today we are going to see the United States Senate pass major crypto legislation with bipartisan support. A year ago I would’ve thought this at best was a fever dream. Think for a moment on how far we’ve come.
— paulgrewal.eth (@iampaulgrewal) June 17, 2025
Meanwhile, the crypto community, which is perpetually straddling the fence between euphoria and chaos, also seems to be breaking into a wild cheer. Rick McCracken, a Cardano enthusiast and apparently, a guru of optimism, chimed in: “We have made so much progress the past couple of years in the crypto space. Very happy to see elected representatives are actually excited to pass pro-digital asset legislation.” Ah, progress. The kind that brings warm, fuzzy feelings and a few regulatory nightmares along the way. 🎉
And yes, sentiment is certainly shifting. Crypto holders, those visionaries who’ve spent years on edge, half-expecting the digital currency equivalent of a volcanic eruption, are finally feeling that sweet, sweet regulation might just come with a sprinkle of safety. Something to make their wallets just a bit less vulnerable to the unpredictable tides of the market.
GENIUS Act
So, what is the GENIUS Act? A clever name, indeed, but no one is expecting it to work miracles. The Guiding and Establishing National Innovation for U.S. Stablecoins Act is basically a federal blueprint, crafted with the ambition of setting the rules for stablecoins with a market cap over $10 billion. Because why not regulate the biggest players first, right? Smaller fish be damned!
The bill, with its carefully constructed rhetoric, treats stablecoins as digital cash—moving beyond their humble origins as mere settlement tools for digital assets. Think bigger, folks. This is the “mainstream” wave they’re hoping to ride. 🚀
And if you thought this was all just a bunch of bureaucratic mumbo jumbo, think again. Bernstein, in its infinite wisdom, boldly predicts, “Stablecoins will evolve from the money rail of crypto to the money rail of the internet.” Because, of course, why not turn something that was already making people a little dizzy into something the whole internet can mess around with?
The Senate, in all its eternal glory, is scheduled to hold the final vote on this highly anticipated masterpiece at 4:30 p.m. ET. After that, we move onto the House, where the drama continues… because who doesn’t love a good political soap opera?
Read More
- Optimism Price Prediction: Technical Indicators Align for Potential Midterm Recovery
- PENGU PREDICTION. PENGU cryptocurrency
- EUR JPY PREDICTION
- USD JPY PREDICTION
- USD INR PREDICTION
- Silver Rate Forecast
- BTC PREDICTION. BTC cryptocurrency
- GBP USD PREDICTION
- USD PHP PREDICTION
- TRX PREDICTION. TRX cryptocurrency
2025-06-17 19:49