Stablecoins have become a mainstream digital asset. As the cryptocurrencies pegged to reserve assets gain prominence, so do their flows. Bloomberg Intelligence estimates that global stablecoin payments will reach $56.60 trillion by 2030. However, compliance regulation frameworks have been slow to move. In the U.S., the GENIUS Act establishes a federal framework that subjects the use of payment stablecoins to federal banking regulation.
Stablecoin issuer Circle Internet Group (CRCL) dropped by a whopping 20.1% intraday on March 24 as investors reacted to the latest version of a bill called the Clarity Act. The new legislation could limit the yield on stablecoin balances.
