All articles tagged with #genius bill
The US GENIUS bill's ban on yield-bearing stablecoins is expected to boost demand for Ethereum-based DeFi applications, as investors seek alternative ways to generate passive income, potentially leading to increased institutional interest and a shift in the stablecoin landscape.
Shares of Coinbase surged over 16% after the Senate passed the bipartisan GENIUS bill, which provides a regulatory framework for stablecoins, and Coinbase announced a new stablecoin payments solution. The legislation aims to legitimize cryptocurrencies with requirements like reserve backing and audits. While Coinbase's stock rallied past a buy point, traditional payments stocks like Visa, Mastercard, and PayPal declined following the news.