Following the signing of the GENIUS Act into law by President Donald Trump on July 18, there has been significant growth and stability in the US stablecoins market. This law provided the first comprehensive framework to regulate stablecoins in the United States, resulting in an $18 billion increase in the stablecoin market cap. Key regulated stablecoins include Tethers USDT and Ethena’s USDE. The trend also signals increased demand for tokens with inbuilt yield despite legislative restrictions. The GENIUS Act has been widely praised and is seen as transformative legislation in the crypto industry.
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