Sen. Hagerty Says GENIUS Act Will ‘Bring America’s Payment System Into The 21st Century While Strengthening The Dollar’
From Yahoo Finance: 2025-05-24 15:30:00
The Senate advances the GENIUS Act, a bipartisan bill to modernize America’s payment systems. The legislation prioritizes digital payment rails for speed and efficiency, aiming to reinforce the dollar’s global dominance. Market analysts project over $1 trillion in new demand for U.S. Treasuries as confidence in dollar-based assets grows.
Equity markets may see positive reactions, especially for fintech and digital payment companies. Bond markets could experience downward pressure on yields with increased Treasury demand. The GENIUS Act aims to foster innovation in digital assets, reducing uncertainty for crypto markets and encouraging institutional participation.
The legislation signals a strategic focus on financial technology leadership, creating a regulated environment for innovation while ensuring consumer protections. Market participants eagerly await implementation details and timelines. The bill’s advancement represents a significant step in modernizing America’s financial infrastructure and reinforcing its global position.