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Senate Passes GENIUS Act: Stablecoins Set for $3.7T Boom

6/20/2025

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Summary

Story summary

U.S. lawmakers are taking significant steps to regulate stablecoins, digital currencies tied to assets like the dollar. The Senate has passed the bipartisan GENIUS Act, backed by President Trump, which aims to weave stablecoins into the financial fabric. Circle CEO Jeremy Allaire envisions this move bolstering the dollar's global supremacy and potentially creating a $3.7 trillion market by 2030.

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Story summary

U.S. lawmakers are taking significant steps to regulate stablecoins, digital currencies tied to assets like the dollar. The Senate has passed the bipartisan GENIUS Act, backed by President Trump, which aims to weave stablecoins into the financial fabric. Circle CEO Jeremy Allaire envisions this move bolstering the dollar's global supremacy and potentially creating a $3.7 trillion market by 2030.