US EditionWhy We Should Worry About the Rise of Stablecoins
- The Senate is deliberating the GENIUS Act, a 2025 bill to regulate stablecoins and provide a national framework for their use and oversight.
- Initial resistance arose from some Democrats citing consumer protection concerns and objections to the Durbin Marshall Amendment, though many have since shifted towards support.
- The bill's progress depends on parallel passage of market structure legislation, with lawmakers urging bipartisan cooperation to pass both by August or early next year.
- Binance currently holds nearly 59% of centralized stablecoin reserves, amounting to $31 billion in USDT and USDC as of May 2025, underscoring its dominant liquidity role despite regulatory scrutiny.
- If enacted, the GENIUS Act could legitimize stablecoins, boost mainstream adoption for digital payments, and promote growth, though ongoing debates highlight challenges in regulation and market structure clarity.
21 Articles
21 Articles
Financial Times
JingletreeWhy we should worry about the rise of stablecoins
Asset-backed digital currencies could pose risks to bedrock of global financial system
Big Tech’s Monopoly Money
There’s a new evil genius on Capitol Hill, one that privacy experts warn could empower tech billionaires like Elon Musk and Mark Zuckerberg to issue their own private currencies. The Senate is poised to pass the GENIUS Act, which would give so much free rein to such “stablecoins” that it could destabilize the rest of the economy.Today on Lever Time, Arjun Singh sits down with Lever reporter Luke Goldstein to understand the GENIUS Act, how it cou…
Washington Top News
KMIZStablecoins are on the verge of becoming mainstream, analysts say, as a landmark regulatory bill moves through Congress. The Senate is deliberating on the GENIUS Act, which would establish a framework for regulating stablecoins. The bill cleared a major procedural hurdle in the Senate last week after initial resistance from some Democrats. Stablecoins are a type of crypto asset pegged to the value of another currency, such as the U.S. dollar or …
The GENIUS Act is key to sustaining demand for U.S. bonds and global dollar adoption. Read more
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