GENIUS Act Lays Stablecoin Rules But Gaps Remain for Foreign Issuers

The signing of the GENIUS Act into law established the first comprehensive regulatory framework for US-issued stablecoins. Supporters argue it will enhance trust, drive mainstream adoption and bolster the dollar’s status as the global reserve currency.

With stablecoins now gaining traction in global finance, the GENIUS Act could also prove a boon for the developing world, attract institutional interest and drive a resurgence in decentralized finance (DeFi).

However, concerns remain over unresolved issues, such as the regulation of foreign issuers,…