U.S. Stablecoin Regulation Bill Expected to Pass Soon

According to Odaily, Bernstein has indicated that the U.S. stablecoin regulation bill, known as the GENIUS Act, is likely to become law in the coming months. Once enacted, stablecoins are expected to evolve into the monetary framework of the internet, serving as its cash layer. The GENIUS Act prohibits non-financial publicly listed companies from issuing stablecoins. However, recent reports suggest that Amazon and Walmart are exploring the use of these cryptocurrencies. If e-commerce and tech platforms wish to adopt stablecoins, they may need to collaborate with regulated U.S. issuers rather than issuing their own stablecoins.