The U.S. Senate’s passage of the GENIUS Act, which creates a unified federal system for regulating stablecoins, has increased pressure on other jurisdictions

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The U.S. Senate’s recent passage of the GENIUS Act, which establishes a national framework for stablecoin oversight, has increased pressure on other jurisdictions to keep pace.
US Treasury secretary Scott Bessent this month said there could be $2tn in circulation globally and their proliferation could “reinforce US dollar supremacy”. The country’s lawmakers are close to agreeing the first rules to oversee the market, known as the Genius act.