Key Highlights:
- U.S. Senate passes the GENIUS Act, bringing stablecoin regulation one step from becoming law
- Lawmakers divided over whether the bill empowers innovation—or favors Trump-linked stablecoin USD1
Yello Paradisers! Is the U.S. embracing stablecoins, or institutionalizing Trump-linked digital money?
In a landslide 68-30 Senate vote, the GENIUS Act just cleared its biggest hurdle. Billed as a long-awaited regulatory framework for payment stablecoins, the bill now heads to the House of Representatives, setting the stage for what could become America’s most influential crypto law to date.
GENIUS Act Clears Senate—But Controversy Lingers
Senator Bill Hagerty called it a “historic step” on the floor Tuesday, claiming the law would empower Americans to settle payments “nearly instantaneously” instead of waiting days or weeks. But behind the bipartisan cheer lies deep political tension—especially around World Liberty Financial, the Trump-connected issuer of stablecoin USD1, which some lawmakers allege could benefit directly from the bill.
Democrats initially blocked the measure in May, citing concerns about the Trump family’s entanglement in crypto ventures. Still, with Republicans holding a razor-thin House majority and Trump’s “AI and Crypto Czar” David Sacks signaling support, the act could be signed into law within weeks.
Meanwhile, tech giants like Apple, Google, Airbnb, and Musk’s X are already exploring stablecoin integration. And Washington insiders whisper that Meta may quietly revive its stablecoin ambitions if the legal clarity sticks.
Even Treasury Secretary Scott Bessent weighed in, posting that the stablecoin sector could grow into a $3.7 trillion market before 2030—“if GENIUS becomes law.”
Recent reporting projects that stablecoins could grow into a $3.7 trillion market by the end of the decade. That scenario becomes more likely with passage of the GENIUS Act.
— Treasury Secretary Scott Bessent (@SecScottBessent) June 17, 2025
A thriving stablecoin ecosystem will drive demand from the private sector for US Treasuries, which back…
This Isn’t Just Regulation—It’s Reinvention
If the House passes GENIUS, U.S. stablecoins won’t just be legal, they’ll be weaponized.
This is more than AML compliance and 1:1 backing rules. The GENIUS Act gives payment stablecoins the same legal footing as traditional money, potentially reshaping how Americans send, save, and spend. No more three-day bank transfers. No more clunky fintech apps relying on middlemen. Just instant, tokenized dollars… backed by private firms and potentially turbocharged by political connections.
But watch closely: if the Trump-linked USD1 becomes the de facto U.S. stablecoin standard, the centralization risk in the name of “free markets” becomes real. What’s sold as innovation could quietly create an unofficial state-backed stablecoin monopoly.
And don’t forget: GENIUS might set the tone for global crypto law. If the U.S. locks this in first, it forces every other economy to follow—or fall behind.
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