Introduction to Stablecoins and Recent Regulatory Developments
The total value of stablecoins in circulation has surpassed $250 billion for the first time, largely driven by a new regulation approved in the U.S. Senate last month, according to a report from cryptocurrency platform Binance.
The Guiding and Establishing National Innovation for U.S. Stablecoins Act (Ley Genius)
This legislative advancement corresponds to the Ley Genius, a bipartisan initiative aiming to establish the first comprehensive federal framework for U.S. payment stablecoins. These cryptocurrencies are designed to maintain a stable value, typically pegged to the U.S. dollar, and must be backed by liquid assets. However, until now, there has been no federal regulation ensuring this backing.
Key Provisions of the Ley Genius
The new law stipulates that only authorized issuers can launch stablecoins in the country. This includes insured banks as well as federally or state-chartered non-bank entities under regulatory oversight. Moreover, it mandates full backing of these cryptocurrencies with U.S. dollars or highly liquid assets, such as Treasury bonds or very short-term repurchase agreements.
However, for the Ley Genius to take effect, it must be approved by the U.S. House of Representatives this month and subsequently signed into law by the President.
Impact of Regulatory Impulse on Stablecoin Adoption
“The growth coincided with the Senate’s approval of the Ley Genius, generating optimism about greater regulatory clarity, potential institutional demand increase, and more stablecoin payments,” the Binance report states.
This regulatory boost occurs as stablecoins gain traction as a payment method, especially in international transactions. According to the Fintech México Radar 2025, among fintechs specializing in cryptocurrencies that use stablecoins, 63% employ them for person-to-person remittances, while 50% use them in cross-border trade operations.
Growing Adoption of Stablecoins
The Binance report also highlights that platforms like Shopify and Stripe announced in June that their users can now accept USDC payments directly at their point-of-sale terminals. Furthermore, major retailers like Walmart and Amazon have started exploring the development of their own USD-backed stablecoins.
Financial Institutions’ Involvement
On the other hand, financial institutions are also making strides in this area. For instance, J.P. Morgan launched a pilot program for JPM-D on June 17, which would utilize a public blockchain.
Conclusion
The EU regulation has significantly contributed to the growth of stablecoins, with their total value surpassing $250 billion. The Ley Genius, if enacted, will provide a comprehensive federal framework for U.S. payment stablecoins, ensuring greater regulatory clarity and potentially driving further adoption in both institutional and retail sectors.
Key Questions and Answers
- What are stablecoins? Stablecoins are cryptocurrencies designed to maintain a stable value, typically pegged to the U.S. dollar, and must be backed by liquid assets.
- What is the Ley Genius? The Ley Genius (Guiding and Establishing National Innovation for U.S. Stablecoins Act) is a bipartisan initiative aiming to establish the first comprehensive federal framework for U.S. payment stablecoins.
- What does the Ley Genius mandate? The new law stipulates that only authorized issuers can launch stablecoins in the country, and they must be fully backed by U.S. dollars or highly liquid assets.
- What is the significance of the Ley Genius approval by the U.S. Senate? The Senate’s approval of the Ley Genius has generated optimism about greater regulatory clarity, potential institutional demand increase, and more stablecoin payments.
- How are stablecoins being adopted? Stablecoins are gaining traction as a payment method, especially in international transactions. Platforms like Shopify and Stripe now accept USDC payments directly at their point-of-sale terminals, while major retailers like Walmart and Amazon explore their own stablecoins.
