GENIUS Act Signals Turning Point for Stablecoin Adoption

According to Odaily, Jesse McWaters, Mastercard's Global Policy Head, has stated that the GENIUS Act represents a pivotal moment for the mainstream adoption of stablecoins. The legislation is expected to encourage institutional participation and foster the development of compliant stablecoins. McWaters believes the act ushers in a new era of regulatory clarity and confidence in digital assets, allowing regulated entities to issue dollar-backed stablecoins. Major institutions such as JPMorgan Chase, Citigroup, Bank of America, Amazon, and Apple are advancing related initiatives. McWaters added, "Mastercard has been preparing for this moment for a long time."