The U.S. Congress passed the GENIUS Act to regulate stablecoins and promote the mainstreaming of encryption.

[Coin World] Reports say that if this Congress is remembered for anything, it might be for its poorly named legislation. First was the "One Big Beautiful Bill," but that is not the case. Now there's the "Genius Act," but that isn't true either. The "Guiding and Establishing National Innovation for US Stablecoins Act" was passed by Congress this week, which will regulate stablecoins and effectively transition them from securities to a means of payment. While some regulation is necessary, as some retailers are considering the issuance of their own stablecoins, it is hard to say that mainstreaming Crypto Assets is a genius move.