Stablecoins on the Verge: U.S. Law Sparks New Crypto Futures

The recent enactment of the GENIUS Act by U.S. President Trump is setting the stage for a new era of digital finance, as major financial entities like Bank of America and Fiserv prepare for the introduction of dollar-backed crypto tokens known as stablecoins.

The law establishes the first federal guidelines for stablecoins, paving the way for their use in routine transactions and financial operations. Companies including Walmart and Amazon are reportedly considering their own stablecoin strategies, aiming for benefits like instant payments.

However, experts caution that new compliance costs and technical hurdles await, stressing that careful consideration of purpose and operational impact is crucial. The law's long-term implications will unfold as further rules and regulations are introduced.

(With inputs from agencies.)