On July 18, the GENIUS Act became law, outlining a legal and regulatory framework for stablecoins for the first time. While this particular legislation is fairly narrow, focusing on coins with a 1:1 relationship with the U.S. dollar (USD), its passage coincided with a sharp rally among certain cryptocurrencies, notably XRP, ether (ETH) and Solana (SOL). Bringing stablecoins within the regulatory framework is a major boost for their wider adoption and appears to have boosted investor optimism regarding the prospects for adjacent cryptocurrencies that could be used to facilitate their development. In addition to the ... (full story)