Genius | Crypto

Critics misunderstand the GENIUS Act’s actual influence. It doesn’t free Bitcoin from taxes but breaks Wall Street’s stranglehold on dollar clearing. Opinion by: Zachary Kelman No, the GENIUS Act doesn’t remove all government control over money. It doesn’t make Bitcoin tax-free. It doesn’t “legalize” decentralized finance (DeFi). And no — it’s not a Trojan horse for a Mark-of-the-Beast-style CBDC, especially with the anti-CBDC provisions passed alongside it. What the GENIUS Act does — and what we should cheer — is break the stranglehold that a handful of powerful banks and regulators have maintained over global dollar clearing for decades. It ends their monopoly on who gets access to clean dollars — and makes their quiet mandate to monitor how that money is used, and whether it aligns with political agendas in Washington or on Wall Street, far more difficult — perhaps even out of reach. Read more

The US GENIUS Act may boost stablecoin adoption, but its ban on yield-bearing stablecoins could drive trillions into tokenized real-world assets. The landmark US GENIUS Act could serve as a major catalyst for stablecoin adoption both domestically and abroad. But rather than simply boosting demand for dollar-backed digital currencies, it may unintentionally push capital into the tokenization market as investors seek yield on their holdings. That was one of the key takeaways from a recent interview with Will Beeson, a former Standard Chartered executive and now founder and CEO of Uniform Labs, a developer of institutional liquidity solutions for tokenized financial markets. A central provision of the GENIUS Act is its blanket ban on yield-bearing stablecoins, which prevents holders from earning interest on their digital dollar balances. According to Beeson, this restriction will accelerate the flow of capital into tokenized real-world assets (RWAs). Read more

The total on-chain stablecoin transaction volume surged to a new all-time high of $1.5 trillion in July, marking a significant milestone in the sector. According to Sentora’s (formerly IntoTheBlock) data, this figure represents a sharp increase from the $1.26 trillion processed in June and surpasses the previous high seen in August 2024, when volumes topped […] The post US GENIUS Act sparks stablecoin boom with record $1.5 trillion transaction volume in July appeared first on CryptoSlate.

The GENIUS Act’s ban on yield could dampen the appeal of digital dollars, particularly as tokenization efforts in traditional finance gain momentum. The recent passage of the US GENIUS Act was widely celebrated as a major step forward for stablecoin adoption, but a key provision may curb the appeal of digital dollars compared to money market funds, raising questions about whether the bill’s authors were swayed by banking industry pressure to restrict yield-bearing stablecoins. The GENIUS Act expressly bans issuers from offering yield-bearing stablecoins, effectively preventing both retail and institutional investors from earning interest on their digital dollar holdings. Because of this, Temujin Louie, CEO of crosschain interoperability protocol Wanchain, cautioned against viewing the legislation as an unqualified win for the industry. Read more

Following the landmark US passage of the GENIUS Act, Fabian Dori of Sygnum Bank breaks down what lies ahead for stablecoins, institutional adoption and global crypto regulation. The recent US passage of the GENIUS Act marked a significant turning point for stablecoins, setting a regulatory precedent that may shape digital finance globally. Fabian Dori, chief investment officer at Sygnum Bank, joined the latest episode of Cointelegraph’s Byte-Sized Insight podcast, detailing how the act will influence stablecoin adoption, institutional engagement and international regulatory alignment. The GENIUS Act, which introduces a clear federal regulatory framework for fiat-backed stablecoins, demands full transparency from issuers, including one-to-one asset backing, mandatory federal licensing and independent reserve audits.  Read more

The GENIUS Act leaves a foreign stablecoin loophole that puts US issuers at a competitive disadvantage, says former CFTC Chair Timothy Massad. The signing of the GENIUS Act into law established the first comprehensive regulatory framework for US-issued stablecoins. Supporters argue it will enhance trust, drive mainstream adoption and bolster the dollar’s status as the global reserve currency. With stablecoins now gaining traction in global finance, the GENIUS Act could also prove a boon for the developing world, attract institutional interest and drive a resurgence in decentralized finance (DeFi). However, concerns remain over unresolved issues, such as the regulation of foreign issuers, doubts about the ban on yield-bearing stablecoins and the potential dominance of corporate and traditional finance players. Read more

Sygnum’s Fabian Dori says the GENIUS Act brings the U.S. closer to global consensus on stablecoin regulation, paving the way for real-world use cases. The GENIUS Act is poised to change the stablecoin landscape by steering issuers away from yield-based models and toward payment-focused use cases, according to Sygnum chief investment officer Fabian Dori. “The GENIUS Act was recently amended to create a clear separation between interest/yield-bearing stablecoins and those used for payments,” Dori told Cointelegraph. He said this brings the US framework closer to the EU’s Markets in Crypto-Assets (MiCA) regulation, laying the foundation for “global consensus.” Dori added that the real impact of the GENIUS Act goes beyond regulation. “By providing long-sought-after clarity, it gives confidence to organizations and issuers to develop original, innovative ‘killer apps’ that don’t just serve their customers’ current needs, but create demand for entirely new services, including payments,” he said. Read more

The digital asset service company joins a growing list of firms making stablecoin moves following the GENIUS bill's passage into law. Anchorage Digital, an institutionally-focused digital asset service provider, announced the launch of a stablecoin issuance platform on Thursday, tapping synthetic dollar and stablecoin issuer Ethena as its first partner client. The company will launch Ethena’s USDtb stablecoin in the United States, according to an announcement made on Thursday. Currently, USDtb is issued offshore.  Issuing USDtb in the US will make the stablecoin fully compliant under the GENIUS stablecoin regulation, signed into law by US President Donald Trump in July.  Read more

Ethena Labs has partnered with Anchorage Digital to launch a fully regulated version of its USDtb stablecoin within the United States, aligning with the newly enacted GENIUS Act, according to a July 24 statement. The collaboration marks a major milestone for Ethena as it transitions USDtb’s issuance to a domestically regulated GENIUS Act framework that […] The post Ethena taps Anchorage to navigate GENIUS Act compliance for USDtb stablecoin appeared first on CryptoSlate.

New legislation like the GENIUS Act is paving the way for institutional adoption of real-world asset tokenization, as Aptos Labs and other major players lead the charge. Real-world asset (RWA) tokenization is rapidly emerging as one of Wall Street’s most promising innovations, and with the recent passage of pro-industry legislation, particularly the US GENIUS Act, growth in the sector is poised to accelerate, according to Aptos Labs’ newly appointed chief business officer, Solomon Tesfaye. In a conversation with Cointelegraph ahead of the landmark passage of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, Tesfaye emphasized the legislation’s appeal to institutional players increasingly signaling intent to enter the crypto space. “We’re seeing more open dialogue between policymakers and Web3 leaders that is shaping legislation and giving institutions more confidence to commit to longer digital asset roadmaps,” Tesfaye said. “More specifically, the GENIUS Act is one of the stro...

The Genius Act is a US law aimed at establishing federal oversight for stablecoin issuers, setting rules for reserves, redemption rights, and licensing requirements. The GENIUS Act is a United States federal law that creates a comprehensive regulatory framework for stablecoins. The Guiding and Empowering Nation’s Innovation for US Stablecoins Act, better known as the GENIUS Act, is the United States’ first federal law focused exclusively on payment stablecoins. The White House categorically states it is a historic piece of legislation that will pave the way for the US to lead the global digital asset revolution. Read more

Circle’s Dante Disparte says the GENIUS Act ensures tech giants and banks can’t dominate the stablecoin market without facing strict structural and regulatory hurdles. The GENIUS Act contains a little-noticed clause that prevents technology giants and Wall Street behemoths from dominating the stablecoin market, according to Circle Chief Strategy Officer Dante Disparte. “The GENIUS Act has what I’d like to call — just for my own legacy sake — a Libra clause,” Disparte told the Unchained podcast on Saturday. Any non-bank that wants to mint a dollar-pegged token must spin up “a standalone entity that looks more like Circle and less like a bank,” clear antitrust hurdles and face a Treasury Department committee with veto power over the launch. Banks don’t get a free pass either. Lenders that issue a stablecoin must house it in a legally separate subsidiary and keep the coins on a balance sheet that carries “no risk-taking, no leverage, no lending,” Disparte noted. Read more

The line between a central bank digital currency and a centrally-managed, government-regulated stablecoin is thin, critics argue. United States congresswoman Marjorie Taylor Greene said that the GENIUS stablecoin bill creates a “backdoor” for the government to effectively create a central bank digital currency, veiled as privately issued crypto tokens. The lawmaker said that regulated stablecoins feature “functional surveillance capabilities,” which make them indistinguishable from CBDCs. In a separate social media post, she added:  Rep. Greene’s comments echo a growing tide of individuals in the Bitcoin and crypto communities sounding the alarm on regulated stablecoins and the potential for these privately-issued tokens to become captured by the state. Read more

The lack of yield-bearing options for US-regulated stablecoins under the GENIUS bill will drive investors to search for interest elsewhere, analysts said. The US fresh stablecoin legislation could create more demand for Ether (ETH) and decentralized finance applications, which are primarily based on the Ethereum network, according to analysts. The GENIUS bill, signed into law by US President Donald Trump on Friday, bans yield-bearing stablecoins, cutting off interest-earning opportunities for institutions and retail traders. This type of stablecoin generates interest or returns for the holder through yield-generating mechanisms, like staking or lending. According to crypto analyst Nic Puckrin, the removal of yield on stablecoins “is great news for Ethereum-based DeFi as the main alternative for passive income generation." Read more

President Donald Trump signed the GENIUS Act into law on July 18, pledging that the measure will secure “global dominance” in crypto technology. The legislation gives the US its first federal framework for dollar‑backed stablecoins. Trump celebrated the passing of the bill, saying: “Crypto has gone up more than any stock. Crypto makes the dollar look good. […] The post Trump signs GENIUS Act into law, activating America’s first regulatory framework for stablecoins appeared first on CryptoSlate.

An OG Bitcoin whale’s $9.6 billion transfer and the stablecoin audit requirements imposed by the GENIUS Act are sparking correction concerns among some industry watchers. Crypto market watchers are warning of a potential correction as whales offload billions of dollars in Bitcoin, even as the US Senate passes three major bills aimed at clarifying digital asset regulation. A Satoshi-era whale awakened after 14 years of dormancy and moved $9.6 billion worth of Bitcoin (BTC), which he received in April and May of 2011, Cointelegraph reported on Thursday. The whale may have opted to sell due to concerns related to the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, as the “US government moves to enforce audit requirements on stablecoins,” according to Jacob King, financial analyst and the CEO of WhaleWire. Read more

The House passed the GENIUS Act in a 307‑122 vote and sent the bill to President Donald Trump, who plans to sign it at a White House ceremony tomorrow, according to Galaxy head of research Alex Thorn.  The 307‑122 tally showed that more than 100 Democrats joined most Republicans to advance the measure, which differed […] The post Congress moves forward on digital asset regulations with GENIUS, CLARITY Acts appeared first on CryptoSlate.

The House has reversed Tuesday's defeat by passing a rule that advances the GENIUS Act, the Digital Asset Market Clarity Act and the Anti-CBDC Surveillance State Act. President Trump's late night lobbying secured GOP unity and could deliver the stablecoin bill to his desk this week.   The post GENIUS Act, Anti-CBDC Act, and CLARITY Act Pass Procedural Vote in Congress appeared first on Cryptonews.

The House approved on July 16 a motion to reconsider the crypto‑related proposals package combining the GENIUS Act, the CLARITY Act, and the Anti‑CBDC Surveillance Act in a 215-211 vote. Alex Thorn, head of research at Galaxy Digital, said on X that analysts expect a vote on the GENIUS Act today. Because the House agreed […] The post House passes motion to reconsider crypto package containing the GENIUS Act appeared first on CryptoSlate.

Europe's largest asset manager says the US GENIUS Act could unintentionally weaken the greenback and disrupt global payments. European asset manager Amundi believes that the US GENIUS Act could trigger a surge in dollar-backed stablecoins, potentially causing unintended consequences for the global payment system, and even threatening the long-term dominance of the greenback itself. “It could be genius, or it could be evil, said Vincent Mortier, Amundi’s chief investment officer, in a recent interview with Reuters.  While dollar-backed stablecoins have long been seen as a way to guarantee the dollar’s global hegemony, promoting a stablecoin could actually create “an alternative to the US dollar [...] that can could lead to more weakening of the dollar,” said Mortier. Read more