GENIUS Act Legalizes Stablecoins, Sparking US Financial Revolution

The passage of the GENIUS Act into law by the U.S. President marks a pivotal moment for the cryptocurrency industry, particularly for stablecoins. The legislation, signed on July 18, 2025, provides a clear regulatory framework for US dollar-pegged digital currencies, acknowledging stablecoins as legal assets. This move is seen as a significant milestone in the evolution of the financial system and the beginning of a new financial revolution in America.

Coinbase CEO Brian Armstrong, who was present at the signing event, hailed the passage of the GENIUS Act as a crucial step forward. In an interview from the White House yard, Armstrong emphasized the importance of this legislation, stating that it marks the official start of a financial revolution in the U.S. He believes that this law will help sustain the U.S.’s dominance in the sector and the US dollar’s status as the world’s reserve currency. Armstrong also noted that the bill's approval is a validation of the years of hard work by industry leaders to revolutionize the financial system.

The GENIUS Act includes provisions that require stablecoin issuers to maintain their reserves on a dollar-for-dollar basis in US Treasury bills and other similar vehicles. This measure is expected to attract significant investment to the U.S. economy. Senior Treasury officials have also expressed their support for the bill, stating that it will not only create visible regulation for stablecoins but also boost the adoption of cryptocurrency in the United States.

The signing event was attended by notable figures in the crypto industry, including the Winklevoss twins from Gemini, executives from Robinhood and Rumble, and other industry leaders. The presence of these key players underscores the growing adoption of digital assets in the United States. This administration has been the most crypto-friendly in the industry’s history, creating an environment that has boosted the growth of assets like Bitcoin.

The GENIUS Act is the first-ever federal crypto bill passed in the U.S., and it may be the first of many. The CLARITY and Anti-CBDC Acts also passed in the U.S. House during what was dubbed "Crypto Week." This series of legislative actions indicates a strong push from the current leadership to allow the cryptocurrency industry to thrive. The bill's approval further solidifies the growing adoption of digital assets in the United States, positioning the country as a leader in the global financial revolution.

Armstrong believes that the law has put the US in a position to move money efficiently across the globe. He stated, “This stablecoin bill passing into law is really a financial revolution for America. It means crypto can finally start updating the financial system, especially for our payments, which are running on these creaky old systems that are decades old. Now, every payment in our economy can be fast, cheap and global – under one second, one cent, anywhere in the world.”

According to Armstrong, he now expects blue-chip companies to start using stablecoin payments to reduce transaction costs. He mentioned, “Now that we have clear legislation, we’re going to see the Fortune 500 really start to adopt stablecoins. We’ve started to see this a little bit already even with the news that this was going to pass in the near future. Coinbase just launched an integration with Shopify, for instance, and we’ve seen announcements from Walmart and Amazon. Almost every Fortune 500 company is now coming in and starting to look at stablecoin payments.”

Armstrong sees this as a big opportunity for Coinbase, describing it as a total addressable market (TAM) expansion for their business. He believes that Coinbase can provide wallets and payment APIs for the whole financial system and every company, eventually. This move is expected to bring significant changes to the financial landscape, making transactions faster, cheaper, and more efficient on a global scale.