DigitalX backs US stablecoin breakthrough as turning point for global crypto adoption
Story by• 2h •2 min readThe move is being widely hailed as a turning point for digital assets, and DigitalX (ASX:DCC) believes it will help bring crypto firmly into the global financial mainstream.
“This is a landmark moment for the cryptocurrency industry,” said Alex Nagorskii, portfolio manager at DigitalX.
“We see it as a crucial step towards the mainstream adoption of digital assets.”
The bill, which now moves to the House of Representatives, establishes clear rules for stablecoin issuers. It mandates a one-to-one reserve ratio, meaning each dollar of stablecoin must be backed by a dollar in reserve. Additionally, it requires compliance with anti-money laundering laws and other banking regulations.
“This legislative clarity significantly reduces the regulatory uncertainty that has long impacted the decentralised finance sector,” Nagorskii said.
Regulation builds confidence
The stablecoin market is already valued at over $240 billion. With companies like Visa, Mastercard, Amazon and Walmart investigating its potential, the Genius Act is anticipated to boost the sector’s growth.
“The act signals the US government’s intent to support crypto and promote the US dollar’s dominance in the digital space,” Nagorskii said.
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