A major crypto bill—the GENIUS Act just passed a key procedural vote on May 19, and now it’s heading toward full Senate approval, possibly as soon as May 20. If this stablecoin bill becomes law, crypto won’t just stabilize, it could explode.
Big projects like XRP and Bitcoin might rise fast, while weaker ones could disappear. This bill isn’t just about rules. It could reset the whole crypto space.
The GENIUS Act sets strict rules for stablecoins in the U.S. It first failed to pass the Senate on May 8 due to concerns about weak user protections and Trump’s influence.
But things changed by May 19. After adding stronger rules, the bill passed a key vote with 66-32 support.
Meanwhile, the updated bill requires stablecoins to have full 1:1 fiat backing, monthly audits, and clear redemption rules. This will help remove shady or risky coins and make stablecoins safer for both regular users to billion-dollar institutions.
House of Representatives – The bill moves to the House, where debate could focus on Trump’s coin, DeFi rules, and consumer protection.
Reconciliation (if needed) – If the House edits the bill, both chambers must agree on a final version.
Trump’s Signature – Trump is expected to sign it, especially since he supports stablecoin rules and backs USD1.
Implementation – Includes 100% reserve backing, monthly audits, Fed/OCC oversight, and stricter rules for stablecoin issuers over $50B.
Stablecoins are a key part of the crypto world. While XRP is not a stablecoin, it could benefit a lot from stronger stablecoin rules.
XRP is mainly used for cross-border payments, which need fast and smooth money transfers. Trusted stablecoins make these transactions easier and more reliable.
So, the more stablecoins we have and the safer they are, the more useful XRP becomes for global banks and payments.
A U.S. bill imposing 1:1 fiat backing, monthly audits, and clear redemption rules for stablecoin issuers.
It mandates full reserves, monthly audits, and Fed/OCC oversight to eliminate unbacked or risky coins.
Safer stablecoins may drive institutional flows into XRP for payments and Bitcoin for store-of-value demand.
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