The Genius Act: A Milestone in Cryptocurrency Regulation

The “Genius Act,” signed by US President Donald Trump on Friday, marks the first cryptocurrency-specific regulation in the country’s history.

Jesse McWaters, Mastercard’s global policy director, called the law’s passage a “turning point in stablecoin regulation and digital asset adoption.”

Mastercard has been preparing for this moment for years, with McWaters suggesting that mass adoption of stablecoins hinges on their integration into trusted systems. The law allows regulated entities, such as banks and organizations that fulfill reserve, transparency, and compliance requirements, to issue dollar-backed stablecoins.

The law’s approval has led to significant movement in the sector. Executives from JPMorgan, Citigroup, and Bank of America have announced plans to join the stablecoin market. Meanwhile, tech giants Amazon and Apple are reportedly working on implementing stablecoins into their platforms.

The bill’s signing ceremony at the White House was attended by notable industry figures from companies like Circle, Coinbase, Gemini, and Tether. Tether CEO Paolo Ardoino emphasized that the new regulation offers a “clear legal foundation” for the industry.

This is not investment advice.