🏛️ Major Legislative Breakthrough: GENIUS Act Officially Signed

U.S. President Trump signed the GENIUS Act today, which will establish the first complete and clear regulatory framework for the $250 billion stablecoin market, including reserve audits and licensing systems, aimed at protecting consumers and promoting innovation.

This bill marks an important milestone for the United States in its move towards mainstream adoption of stablecoins, expected to provide a faster and more transparent settlement mechanism for dollar-denominated stablecoins, while enhancing institutional confidence.

🌐 Market reaction and total market capitalization surge

With the signing of the GENIUS Act, the global cryptocurrency market capitalization has surpassed $4 trillion, with Bitcoin briefly reaching $123,205 before falling back to $117,000; Ethereum rose to around $3,500, and Solana, XRP, and others also performed strongly.

Since early July, it is estimated that Bitcoin and Ethereum ETFs have seen inflows of approximately $550 million and $290 million, forming significant buying support.

⚠️ Opposition voices and regulatory risks

Although the bill is supported by most Republicans, there are also opponents who are concerned that it may lead to excessive government surveillance, even "manipulating financial instruments"; there is also controversy within the United States regarding the legality of the CBDC ban provisions.

Experts point out that while this law promotes regulatory transparency, it may also create a space for large technology and financial institutions to exert influence, thereby limiting competition in market observation.

🔮 Future Outlook

After the bill for stablecoins to enter mainstream financial applications is passed, Visa, Mastercard, and PayPal will more actively integrate stablecoins, opening up broader payment and cross-border usage.

The cryptocurrency market has entered a new stage of institutionalization, and improved regulation will help institutional funds to enter the market, converting stablecoins into legal reserves or payment methods.

The rise in short-term volatility risk brought confidence from the bill, but it may also lead emerging market participants to overinterpret policy changes. In the short term, the market should remain cautious of a pullback.