On Friday, July 18, 2025, the President signed into law the Senate Bill 1582, the “Guiding and Establishing National Innovation for U.S. Stablecoins Act” or “GENIUS Act,” which provides for the regulation of stablecoins. The law is part of a series of initiatives to define a regulatory framework for cryptocurrencies in the United States. At this point, it is important to discern the trees from the forest. Well-received as it was for bringing legal clarity, there is one feature of the new law that is extremely concerning: how much the stablecoins that come to be issued under its rules incorporate the most damaging ... (full story)