MARA CEO Praises GENIUS Act for Stability in Stablecoins

MARA CEO Fred Thiel believes the GENIUS Act will be beneficial in building trust around stablecoins. He notes the "rapidly maturing" crypto industry and U.S. energy policy as areas of focus. Thiel sees the GENIUS Act as a positive development for MARA and the industry as a whole, helping to establish trust in stablecoins.

The U.S. House of Representatives has passed the GENIUS Act, a significant milestone for the cryptocurrency industry. This legislation, which mandates a federal regulatory framework for stablecoins, is expected to be signed into law by President Donald Trump. The GENIUS Act, short for Generating Efficient National Infrastructure for U.S. Stablecoins, requires stablecoin issuers to maintain 1:1 reserves backed by high-quality assets like U.S. Treasuries and cash, and imposes strict transparency requirements and oversight by federal regulators.

MARA Holdings, a leading Bitcoin miner, stands to benefit from this legislation. The company's CEO, Fred Thiel, believes the GENIUS Act will help build trust around stablecoins. Thiel sees the rapidly maturing crypto industry and U.S. energy policy as key areas of focus for MARA. He views the GENIUS Act as a positive development for both MARA and the industry as a whole, as it helps to establish trust in stablecoins.

The passage of the GENIUS Act comes after intense lobbying from the crypto industry, which spent over $100 million in Congressional races last year. The bill has received significant Democratic support and was passed with a 308-122 vote. It now heads to the president's desk for his signature, following its approval by the Senate last month with a 68-30 vote.

Critics of the bill argue that the rules are not strong enough and that the legislation allows non-financial institutions to issue stablecoins without following all the rules that banks and other financial firms must adhere to. However, proponents argue that the bill will foster innovation by providing legal clarity and potentially unlocking trillions in market value.

The passage of the GENIUS Act is a landmark moment for the cryptocurrency industry. It signals a shift in the U.S. stance toward digital currencies and marks the first major congressional victory for the sector. The legislation is expected to have a significant impact on the crypto market, including stablecoin issuance and adoption.

References:
[1] https://www.benzinga.com/trading-ideas/movers/25/07/46453472/mara-holdings-stock-gains-as-house-reverses-course-to-advance-crypto-bills
[2] https://www.npr.org/2025/07/17/nx-s1-5451413/crypto-week-stablecoin-genius-act-trump
[3] https://www.webpronews.com/us-house-passes-genius-act-federal-stablecoin-regulations-advance-toward-trumps-signature-amid-crypto-industry-push/