The GENIUS Act: Bringing Digital Assets to the Mainstream

Christian Miccoli, CEO and Founder of Conio, the Italian fintech founded in 2015 in San Francisco, comments on the shifting regulatory landscape surrounding cryptocurrencies following the US approval of the GENIUS Act.

“The world's largest economy has chosen to focus strongly on the sector. We are still at the beginning. 

“It is too early to be able to say how the situation will evolve, but it is inevitable that there will be players who will be able to assume a dominant position, along the lines of giants such as Google and Amazon. 

“Europe cannot afford to stand idly by: this is a challenge that Europe absolutely must take up. The only way to protect ourselves and be competitive against the American giants is to focus on innovation. We are witnessing a revolution that could redefine the financial and banking system. 

“Of course, when it comes to such big innovations, it is impossible to predict the winning solution in advance, the important thing is to have the aim of developing a model that promotes European innovation worldwide.”

Lukas Enzersdorfer-Konrad, Deputy CEO at Bitpanda

Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda, comments on the passing of the GENIUS Act in the US House of Representatives.

"The passage of the GENIUS Act in the US House is a clear signal that regulatory momentum in Washington is finally catching up with the pace of innovation in crypto. 

“This breakthrough is fuelling broad market optimism in BTC, as we've seen from the recent all time high, and now for altcoins. Assets like XRP and DOGE are rallying and the overall crypto market cap has crossed US$4tn for the first time because investors are anticipating a more stable and supportive regulatory environment. 

“Broad rallies need confidence and when the world’s largest economies begin laying the groundwork for legal clarity, it lifts sentiment across the board.”

Riccardo Tordera, Director of Policy & Government Relations at The Payments Association

With the US GENIUS Act setting a new benchmark for digital asset regulation, The Payments Association’s Director of Policy and Government Relations, Riccardo Tordera, warns that without a more ambitious and proportionate stablecoin regime, the UK could forfeit its status as a world-leading financial hub.

“There is a growing disconnect between the Chancellor’s Mansion House speech -- where Rachel Reeves pledged to ‘drive forward developments in blockchain technology, including tokenised securities and stablecoins […] so that UK financial services can be at the forefront of digital asset innovation’—and the direction of travel in current regulatory proposals. 

“If the FCA continues down an overly restrictive path, the UK risks undermining its competitiveness and missing out on the substantial economic benefits that stablecoins can deliver.

“If we want to grow the economy, the priority shouldn’t be on selling Bitcoin, but on building the right conditions for innovation—unlocking revenue potential, job creation and the infrastructure for a digital-era ‘big bang’. Stablecoins are critical to that vision.”

Mark Aruliah, Head of EMEA Policy and Regulatory Affairs at Elliptic

Teresa Cameron, Group CFO at Clear Junction, comments on the passing of the GENIUS Act.

“In a landmark moment for the global crypto industry, the US has passed the GENIUS Act. At Clear Junction, we’ve long believed that the future of global payments lies in a hybrid model – where financial institutions combine traditional fiat networks with innovative crypto technologies – and this legislation accelerates that transition.

“Stablecoins deliver what legacy systems cannot: real-time settlement, 24/7 availability, and enhanced transparency. What started as niche innovation is now becoming essential infrastructure as regulated players seek alternatives to SWIFT and other legacy networks.

“The Act’s federal oversight, strict reserve requirements, and consumer protections provide the regulatory clarity that traditional financial institutions have been waiting for. After lagging behind the EU's MiCA framework, the US is now positioning itself to help shape global regulatory crypto standards.

“As the world’s largest financial hub, US regulation often sets international precedent. If implemented effectively, the GENIUS Act could serve as a blueprint for global regulatory alignment – helping crypto shed its ‘Wild West’ reputation and achieve institutional-grade reliability. We welcome this progress toward greater trust, transparency, and sustainable innovation.”

Jesse McWaters, Head of Global Government Affairs at Mastercard

Jesse McWaters, Head of Global Government Affairs, gives their take on what’s to come after the US House passed the GENIUS Act.

“Stablecoins are at a turning point. The passage of the GENIUS Act by the U.S. Congress signals a new era of regulatory clarity and confidence in digital assets.

“This builds on global momentum. The EU’s Markets in Crypto-Assets (MiCA) framework, now in effect, has set a precedent for comprehensive oversight. Similar frameworks in Hong Kong, Singapore and the United Arab Emirates have also introduced rules that prioritize the safe and secure operation of these assets.

“Together, these developments are laying the groundwork for a more cohesive environment — one that fosters innovation while reinforcing trust. We welcome this progress. As with past waves of financial innovation, we support strong, clear regulation that enables responsible growth, propels choice and unlocks real-world benefits. 

“Stablecoins are already proving their value in the real world. They’re enabling faster, lower-cost cross-border B2B payments. They’re simplifying peer-to-peer remittances. And they’re creating new ways for content creators and gig workers to get paid on their terms.

“But to move from niche to mainstream, stablecoins need more than speed and programmability. They need to be embedded in systems that people trust — systems that protect users, resolve disputes and work seamlessly across borders and platforms.”

Anil Oncu, CEO of Bitpace

Anil Oncu, CEO of Bitpace, offers an analysis of the GENIUS Act landing on Crypto Week, and what this means in conjunction with the passing of the CLARITY Act.

“US legislation through the GENIUS Act and the CLARITY Act is sending positive sentiment across the market, establishing new levels of control and security in the crypto sector. 

“This is a welcome development for many stakeholders, as it further legitimises crypto as an asset class. 

“Investors are responding in kind, as ‘Crypto Week’ has generated a positive reception in the market with BTC value rising to a new all-time high, and the total market cap of crypto assets surpassing US$4tn.

“Developments in the US will boost signals to other regions, potentially motivating revision of legislation in other markets. But there is a line that regulatory bodies are looking to walk. 

“Jurisdictions are competing to be crypto-friendly hubs, while also establishing control measures through licensing. Engineering regulatory balance will be critical to promoting stablecoin adoption in the future.”

Edvards Margevics, CBDO and Partner at CONCRYT

Edvards Margevics, CBDO and Partner at CONCRYT, offers his view on the GENIUS Act.

“The GENIUS Act is a milestone for stablecoin regulation in the U.S. But like most compromises, it’s far from perfect. While it finally offers a national framework for payment stablecoins, it also leaves key questions unanswered around interoperability, enforcement consistency, and long-term coordination between state and federal regulators

“From CONCRYT’s perspective, the Act is a strong first step, especially in establishing baseline expectations for reserve management, disclosures, and consumer protection. That clarity is essential. But clarity isn’t the same as completeness.

“There's still significant work ahead to ensure that implementation doesn’t fragment the ecosystem or introduce unintended barriers to entry, particularly for smaller fintechs or cross-border issuers.

“We’re also watching closely how the dual-licensing pathway plays out in practice. While it gives states a continued role in innovation, it could also reinforce a patchwork dynamic that the industry has spent years trying to escape" Edvards continues.

“Still, the broader signal matters: the U.S. is no longer sitting on the sidelines. For institutions trying to enter the stablecoin space with confidence, the GENIUS Act provides a credible legal perimeter and a mandate to build responsibly. That’s a welcome shift, even if the road ahead remains complex

“For Europe, this should be a wake-up call. We need to move quickly with our own regulatory frameworks or risk falling behind. The GENIUS Act is more than a US policy shift. It sets a new global benchmark for digital finance."