Stablecoins are poised to become the default digital cash for the Internet. According to a Bernstein research note published Monday, the proposed Stablecoin GENIUS Act could establish the United States as the global epicenter of stablecoins.
The legislation, officially named the Guiding and Establishing the National Innovation for U.S. Stablecoins Act of 2025, is scheduled for a Senate vote this week. It is expected to pass by the end of summer.
The GENIUS Act aims to transform stablecoins from a crypto settlement tool into a mainstream financial rail.
“We expect stablecoins to evolve from the money rail of crypto to the money rail of the internet, driving transformative financial services buildout over the next decade,” the Bernstein report states.
The bill outlines a regulatory framework that allows banks, federally qualified non-bank issuers, and state-qualified entities to issue stablecoins while imposing strict compliance requirements on foreign issuers.
Stablecoins, defined …