Introduction of the Genius Act
The new US law, known as the “Genius Act” (Guiding and Establishing National Innovation for US Stablecoins), was passed by the US Senate on June 17, 2025, and is soon to be voted on in the House of Representatives as well as potentially signed by President Donald Trump. This law brings clear regulatory guidelines for stablecoins for the first time, meaning cryptocurrencies that are pegged to the US dollar and thus offer comparably stable value development.
Key Provisions of the Law
- 100% Coverage Requirement: Providers of stablecoins must always hold at least as many liquid assets as issued coins.
- Promotion of Payment Stablecoins: The law aims to promote the use of stablecoins as a means of payment.
- Regulation for Smaller Transactions: Initially, the law covers all Bitcoin transactions up to 600 USD.
Importance for the Crypto Industry and Investors
This law is considered a milestone in the regulation of cryptocurrencies in the USA and creates more legal certainty for investors. The US Secretary of the Treasury forecasts market growth of up to 3.7 trillion dollars by 2030. The improved regulatory landscape could also have global impacts.
Controversial Aspects
Despite positive impulses, there is also criticism: The Conference of State Bank Supervisors (CSBS) warns of risks to financial stability from providers without regulatory oversight, and consumer advocates criticize potential personal interests of President Trump.
Possible Further Effects
The new regulations could also influence ongoing court cases, such as the trial against Do Kwon (Terraform Labs), as charges could change.
Conclusion: Next Major Catalyst?
The implementation of the Genius Act is likely to be achieved with a probability of about 75% and represents a significant impetus for the crypto market. The clear regulation builds trust among investors and companies alike and could trigger a gold rush atmosphere in the stablecoin sector.