What happens on day one after the GENIUS Act passes?
The post What happens on day one after the GENIUS Act passes? appeared on BitcoinEthereumNews.com.
Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. The new United States stablecoin bill, known as the “Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act,” is a big move for safeguarding blockchain innovation in the US. Sponsored by Senator Bill Hagerty (R-Tenn.), it marks a rare moment of bipartisan support for establishing a clear regulatory framework for one particular facet of the digital assets industry: namely, an area that has potential to establish meaningful guidelines around licensing and oversight, transparency and reserve standards, and consumer protection and AML/KYC. While it’s already passed the Senate Banking Committee in an 18-6 vote, the GENIUS Act has yet to become law. But, if the bill goes through, it could propel the US past other jurisdictions—particularly Markets in Crypto-Assets Regulation in Europe—that have traditionally outpaced the US when it comes to enacting clear regulatory frameworks for crypto. However, it’s far too easy to think that on day one after this bill passes, crypto exchanges, financial firms, and even companies like Amazon, X, and Meta will be immediately encouraged to increase their participation in the stablecoin landscape. The reality is that the success of these institutions hinges on access to instant price feeds—something that is not universally accessible today. What no one is talking about when it comes to the GENIUS Act Real-time, accurate market data is what powers the world’s most renowned exchanges and financial institutions. Think about it: speed was everything when high frequency trading first came onto the scene in the early aughts, and the most competitive traders from those days still remember losing big time on an arbitrage opportunity all because someone else was just a few milliseconds faster. However, experts estimate that today,…
Filed under: News - @ April 13, 2025 11:21 am