From Nasdaq: 2025-06-18 10:02:00

The Senate approved the GENIUS Act to establish the first federal framework for stablecoins, benefiting U.S. banks like Bank of America, U.S. Bancorp, and Fifth Third Bancorp. The Act defines payment stablecoins and mandates regulatory oversight, aiming to prevent them from being classified as securities and ensuring compliance with AML regulations.

If passed, the GENIUS Act could trigger a rise in new stablecoin issuers, including major traditional firms like Amazon and Walmart. Large banks like Bank of America, Fifth Third, and U.S. Bancorp are open to adopting stablecoins, while Amazon and Walmart are exploring stablecoin opportunities. This new competition may disrupt traditional payment infrastructure.

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Read more at Nasdaq: Senate Passes Stablecoin GENIUS Act: A Major Win for Large Banks?