Ripple CEO Brad Garlinghouse has praised the U.S. Senate’s passage of the GENIUS Act, calling it a “truly historic moment” for crypto and the broader financial system.
The bill passed with strong bipartisan support – 68 votes to 30 – marking the first major financial legislation since Dodd-Frank. For Garlinghouse, who’s been vocal about the need for clear regulations, this is a huge step forward for the industry.
The GENIUS Act sets a federal framework for regulating stablecoins. Under the new law, only approved entities like banks can issue dollar-backed digital currencies.
It also requires stablecoin issuers to publish monthly reports showing what backs their tokens, and major issuers must complete yearly audits. These rules aim to increase transparency and build trust in the growing stablecoin market.
Bipartisan Support Shows Changing Attitudes
The bill saw rare unity in Washington, with 18 crypto-friendly Democrats joining Republicans to support it. This shift suggests lawmakers are beginning to take crypto more seriously and recognize its potential if properly regulated.
These historic developments will boost the confidence of crypto lovers. With such pro-crypto programmes, investors who are looking to put their money on crypto will gain confidence.
How will it benefit XRP? A user on X shares that the GENIUS Act could increase XRP by improving Ripple’s RLUSD stablecoin credibility, increasing institutional trust, and pushing XRP’s usage in cross-border payments.
Supporters say the bill does more than regulate; it strengthens consumer protections, improves national security, and reinforces the U.S. dollar’s dominance in the digital age.
Garlinghouse said the industry has spent years asking for clear rules, and now, those efforts are finally paying off.
As the GENIUS Act moves toward implementation, its real impact on crypto markets – and Ripple’s future – will become clearer.
For now, the message is loud and clear: U.S. lawmakers are finally starting to meet the crypto industry halfway.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Story Highlights The Live Price Of XRP Predictions suggest XRP could reach $5.05 by the…
On October 20, both US spot crypto ETFs saw a sharp decline in inflows. According…
Pi Network is evolving beyond its initial phase as a mobile mining experiment into a…
A Solana Treasury company has recently announced a bold step that sets it apart from…
Bitcoin’s price dropped again, falling below $108,000 as worries grow over rising tensions between the…
Story Highlights Bitcoin is currently trading at: Predictions suggest BTC could reach $175K in 2025.…
