Global investment institution Bernstein analyzed that the 'GENIUS Act' being pursued in the U.S. Congress could be a turning point for the institutionalization of stablecoins. This is a diagnosis that stablecoins could be the basis for financial innovation over the next 10 years, beyond simple cryptocurrency regulation.
Bernstein predicted that this bill will be a catalyst for transforming stablecoins into an essential financial infrastructure for an internet-based digital economy.
The GENIUS Act is likely to pass this summer, with key contents as follows:
Establishing a strict regulatory framework for stablecoin issuers within the United States
Limiting market entry for non-compliant overseas issuers
Introducing a requirement of 100% short-term U.S. Treasury bond collateral
According to the report, the bill provides institutional clarity by defining stablecoins as 'digital cash' rather than securities or deposits. This could lay the groundwork for stablecoins to play a core role in asset circulation and financial services on the internet, beyond being a simple payment method.
Bernstein also noted the possibility of market restructuring centered on reliable, regulation-compliant issuers, and highlighted the potential for stablecoins to fully spread as global payment and financial infrastructure.
As major U.S. banks and tech companies have been showing interest in stablecoin businesses, attention is focused on whether the GENIUS Act can be a turning point for the institutional leap of stablecoins.
