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Stablecoins are digital assets pegged to a stable reserve, such as the US Dollar or Gold, to minimize price volatility. Serving as the primary medium of exchange in Web3, tokens like USDT, USDC, and PYUSD facilitate global payments and DeFi liquidity. In 2026, the focus has shifted toward yield-bearing stablecoins and compliant stablecoin frameworks under global regulations like MiCA. This tag covers the intersection of traditional finance (TradFi) and crypto through stable on-chain liquidity solutions.

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Created: 2026/02/02 18:52

Updated: 2026/02/02 18:52

Three major impacts of the Genius Act on the cryptocurrency industry in the next five years

Three major impacts of the Genius Act on the cryptocurrency industry in the next five years

By Alex Carchidi Compiled by: Vernacular Blockchain On June 17, the U.S. Senate passed the Guidance and Establishment of a United States Stablecoin National Innovation Act (Genius Act), the first

2025/07/02

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Trump-Backed GENIUS Act Under Fire: NYAG Urges Tougher Stablecoin Rules Before July Vote

Trump-Backed GENIUS Act Under Fire: NYAG Urges Tougher Stablecoin Rules Before July Vote

New York Attorney General Letitia James has raised serious concerns over the recently passed GENIUS Act, warning Congress that the bill, in its current form, could leave investors and the U.S. financial system vulnerable. In a letter sent Monday to congressional leaders, James urged lawmakers to slow down the legislative process and implement stronger guardrails before finalizing any stablecoin regulations. Attorney General Calls GENIUS Act “A Danger to Investors, Economy, and National Security” The U.S. Senate approved the “Guiding and Establishing National Innovation for U.S. Stablecoins Act” last month in a 68-30 vote . It marked the first time the chamber passed a comprehensive bill focused solely on stablecoins. The legislation proposes strict rules for issuers, including full dollar backing and monthly disclosures of reserves. The bill is now headed to the House of Representatives, where lawmakers are preparing for a potential vote in the coming days. Source: NYAG But Attorney General James says the GENIUS Act does not go far enough to protect the public. “Many people across the country invest millions of dollars in cryptocurrencies, yet our laws fail to protect them and their money from fraud,” James said in the letter. “Unregulated cryptocurrency transactions are a danger to investors, the economy, and national security.” James expressed concern that legalizing stablecoin issuance without stronger oversight will open the door to financial abuse. She warned that the current bill lacks key protections and could allow stablecoin issuers to operate with less accountability than banks. Her letter calls on Congress to treat stablecoin issuers like traditional banks. That would include stronger regulatory supervision, capital requirements, and FDIC-backed insurance on stablecoin deposits. She also recommended digital identity verification for stablecoin users to reduce fraud, prevent money laundering, and limit the ability of bad actors to hide behind anonymity. James warned that stablecoins are often used in anonymous transactions, which can be exploited by criminal networks and terrorist groups. Without stricter measures, she argued, the GENIUS Act could compromise national security and leave the economy exposed. The letter also emphasized the need to keep stablecoin issuers within U.S. jurisdiction. Offshore platforms, James said, pose enforcement challenges and make it harder to maintain regulatory standards. She also urged lawmakers not to undercut community banks, which she said remain essential to rural and underserved communities. GENIUS and CLARITY Crypto Bills Favor Industry Over Investors James is not only targeting the GENIUS Act; She has also submitted a statement to the House Financial Services Committee regarding the Digital Asset Market Clarity Act ( CLARITY ), another crypto bill under review. In that statement, James criticized the bill for shielding bad actors, allowing market manipulation, and failing to give regulators the tools to stop fraud. She warned that both the GENIUS and CLARITY Acts, if passed without key revisions, would create a weak regulatory framework that prioritizes industry growth over consumer protection. In her latest letter, James told Congress: “Take the time necessary to draft legislation that will enhance innovation while protecting our banking system that is the envy of the world.” The GENIUS Act, while receiving bipartisan support in the Senate , has drawn divided reactions from regulators and state officials. It would limit stablecoin issuance to licensed institutions and impose requirements around asset backing and public disclosures. ⚠️ The GENIUS Act has been passed — but experts say stablecoins have the potential to damage the global economy #Crypto #Tether #Circle #USDT #USDC https://t.co/NWGB63iV2M — Cryptonews.com (@cryptonews) June 19, 2025 Under the bill, stablecoins must be backed by U.S. dollars or equivalent liquid assets, and consumer protections are included in the event of issuer bankruptcy. President Donald Trump has publicly endorsed the bill. “Get it to my desk, ASAP—NO DELAYS, NO ADD ONS,” he wrote on Truth Social. Still, James insists the bill needs deeper scrutiny. She warned that pushing stablecoin legislation forward without additional safeguards will leave American investors at risk. The House of Representatives is expected to hold procedural votes on the GENIUS and CLARITY Acts as early as the week of July 7 . 🏛️ The GENIUS Act and the CLARITY Act slated to be voted on by the House of Representatives as early as next week. #GENIUSAct #CLARITYAct https://t.co/5sxdIu420J — Cryptonews.com (@cryptonews) June 30, 2025 Should either bill pass both chambers, it would represent a major shift in how digital assets are regulated in the U.S. This isn’t James’ first warning to Congress. In April, she sent letters urging lawmakers to include “common sense principles” in any crypto bill, such as requiring stablecoin issuers to operate onshore and barring cryptocurrencies from retirement accounts. With momentum building in Washington to establish clear crypto laws, James is pressing for balance. She says investor protection and financial stability must not be traded for speed. “Congress must pass legislation that strengthens oversight of cryptocurrency to help stop fraud and criminal activity and protect the American public,” she said.

Author: CryptoNews

2025/07/02

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Mastercard to expand crypto team, hires two senior staff to advance blockchain initiatives

Mastercard to expand crypto team, hires two senior staff to advance blockchain initiatives

PANews reported on July 1 that according to CoinDesk, payment giant Mastercard is expanding its crypto business team and plans to recruit two vice president-level executives at its U.S. headquarters.

2025/07/01

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FATF’s crypto checklist hints at the next regulatory crackdown

FATF’s crypto checklist hints at the next regulatory crackdown

The FATF is shaping global crypto rules from behind the scenes, with stablecoins and DeFi next in line for scrutiny.

2025/07/01

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Connecticut Goes Anti-Crypto as Governor Lamont Signs Bill Banning State Digital Asset Investments

Connecticut Goes Anti-Crypto as Governor Lamont Signs Bill Banning State Digital Asset Investments

Connecticut Governor Ned Lamont has officially signed into law a comprehensive “Bitcoin Reserve Ban” that prohibits the state from accepting, holding, or investing in digital asset. The legislation, known as H.B. 7082, passed unanimously through both the state House of Representatives and Senate without a single opposing vote. Source: cga.ct.gov The new law explicitly bars Connecticut and its political subdivisions from accepting virtual currency as payment or establishing any form of digital asset reserve . This positions Connecticut as one of the most restrictive states regarding cryptocurrency adoption, contrasting sharply with the growing trend of Bitcoin reserve legislation across the United States. The timing appears particularly significant, as 26 states have introduced 47 Bitcoin reserve bills, with Texas, New Hampshire, and Arizona already having approved state-level Bitcoin reserve frameworks. Connecticut’s decision effectively removes it from the national conversation around strategic crypto adoption for public treasuries. The legislation extends beyond investment restrictions to comprehensive regulations governing the transmission of money. Crypto businesses must now provide extensive disclosures about material risks, including warnings about fraud potential, market volatility, and the irreversible nature of transactions. Additional protections require parental verification for users under 18 years old. 🚨 NEW: Connecticut Governor Ned Lamont officially signed into law the state's 'Bitcoin Reserve Ban' today. Connecticut is now prohibited from accepting, holding, or investing in digital assets. https://t.co/vIXIkprdHI — Bitcoin Laws (@Bitcoin_Laws) July 1, 2025 States Rally Around Bitcoin Adoption Despite Federal Uncertainty Crypto adoption at the state level is aggressively growing and starkly contrasts with this new Connecticut move. Texas leads the movement with Governor Greg Abbott signing Senate Bill 21 , establishing America’s first state-funded Bitcoin reserve entirely separate from the state treasury. ✅ Texas has officially joined the small but growing list of U.S. states moving toward on-chain finance, passing a bill that protects Bitcoin reserves. #Texas #Bitcoin https://t.co/kBh6nFgROs — Cryptonews.com (@cryptonews) June 22, 2025 Texas Comptroller Glenn Hegar will oversee the fund, with companion legislation HB 4488 protecting reserves from routine fund reallocations. Senator Charles Schwertner led the initiative, arguing, “ the state of Texas should have the option of evaluating the best performing asset over the last 10 years. “ New Hampshire also achieved a historic milestone by becoming the first state to pass laws allowing public funds to be invested in Bitcoin reserves . Governor Kelly Ayotte signed legislation permitting up to a 5% allocation in digital assets with a market capitalization exceeding $500 billion, effectively targeting Bitcoin exclusively. California is also not left out with its progressive adoption through Assembly Bill 1180 , which unanimously passed with 78 Assembly Members supporting pilot programs for digital asset fee payments. The Department of Financial Protection and Innovation will create frameworks for cryptocurrency-based government transactions by 2025. Arizona, however, presents a complex picture, with Governor Katie Hobbs vetoing comprehensive Bitcoin reserve legislation while simultaneously signing HB 2749, which creates frameworks for managing unclaimed digital assets. The state maintains multiple active bills, including revised HB2324, which recently passed Senate reconsideration. Corporate adoption accelerates regardless of state-level policies, with 252 entities now holding Bitcoin, representing approximately 16.57% of the total supply. Source: BitcoinTreasuries Strategy maintains the largest position at 597,325 BTC worth $63.93 billion, with the most recent purchase being 4,980 Bitcoin for $531.1 million, at an average price of approximately $106,801 per bitcoin. Source: SaylorTracker Regulatory Patchwork Creates Compliance Challenges Notably, the new Connecticut law mandates extensive compliance measures, including customer identification protocols, transaction receipt requirements, and robust risk disclosure frameworks that exceed federal minimums. Money transmission licensees must maintain virtual currency holdings equal to customer obligations while prohibiting unauthorized use of controlled assets. The legislation establishes that virtual currency held by licensees becomes property interests of claimants, creating additional legal protections for consumers. Several states have abandoned their efforts to reserve Bitcoin, creating an inconsistent national landscape. Florida withdrew House Bill 487 and Senate Bill 550 during legislative sessions, joining Wyoming , South Dakota, North Dakota , Pennsylvania, Montana, and Oklahoma in failed adoption attempts. Positively, some other states are still in the process. For instance, Michigan introduced House Bill 4087 , which allows for a 10% treasury allocation to cryptocurrencies. 🇺🇸 The Michigan House Bill was introduced by Representatives Bryan Posthumus and Ron Robinson to push for a strategic Bitcoin reserve. #BitcoinReserve #Michigan https://t.co/fXJSPOQ6gs — Cryptonews.com (@cryptonews) February 14, 2025 At the same time, Ohio advanced Senate Bill 57 , which creates exclusive Bitcoin reserve funds with mandatory five-year holding periods. Similarly, North Carolina also passed legislation permitting a 5% investment allocation pending validation by third-party oversight. Additionally, West Virginia’s Inflation Protection Act proposes a 10% treasury allocation to digital assets with a market capitalization exceeding $750 billion, effectively limiting investments to Bitcoin and select stablecoins. The legislation positions precious metals and cryptocurrencies as inflation hedges against government spending deficits. Oklahoma has also approved the Strategic Bitcoin Reserve Act through the House Committee with a 12-2 vote, allowing for a 10% public fund allocation to digital assets that meet market capitalization thresholds. The state previously passed Bitcoin Rights legislation protecting self-custody rights and transaction freedoms.

Author: CryptoNews

2025/07/01

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Stablecoins backed by US debt: On-chain replication of broad money and reconstruction of the financial system

Stablecoins backed by US debt: On-chain replication of broad money and reconstruction of the financial system

Overview Stablecoins backed by U.S. Treasuries are quietly building an on-chain broad money (M2) system. Stablecoins like USDT and USDC currently have a circulation of $220–256 billion, accounting for about

2025/07/01

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After the US dollar stablecoin boom, South Korea lifted the 14-year ban on "Kimchi bonds"

After the US dollar stablecoin boom, South Korea lifted the 14-year ban on "Kimchi bonds"

PANews reported on July 1 that according to the Financial Times, affected by the speculative craze of US dollar stablecoins, in order to attract hedging capital inflows, South Korea lifted

2025/07/01

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What will the macro environment look like next? Analyzing four possible scenarios

What will the macro environment look like next? Analyzing four possible scenarios

A choice at a crossroads The market is holding its breath, almost regarding the Fed's rate cut as the starting gun for a new round of asset mania. However, a

2025/07/01

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Revisiting the Stablecoin Trilemma: The Current Decline of Decentralization

Revisiting the Stablecoin Trilemma: The Current Decline of Decentralization

Author: Chilla Compiled by: Block unicorn Preface Stablecoins are getting a lot of attention, and for good reason. Beyond speculation, stablecoins are one of the few products in the crypto

2025/07/01

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FATF warns of stablecoin crime risks, crypto executives: Not targeting the crypto industry

FATF warns of stablecoin crime risks, crypto executives: Not targeting the crypto industry

PANews reported on July 1 that the Financial Action Task Force (FATF) recently warned of a rise in stablecoin-related criminal activities, but executives of blockchain intelligence companies said that this

2025/07/01

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