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Grateful for GENIUS and Clarity? Stablecoin Dispatch Volume 6 (25/07/25)
Crypto week closes with the GENIUS act passed into law. But this is only the beginning.
Olabinjo Adeniran
July 25, 2025
Magandang umaga!
Last week, the US House of Representatives passed multiple crypto bills, in what’s now called crypto week. The bills are:
The GENIUS Act regulates stablecoin issuers.
The Digital Asset Market Clarity Act creates rules for blockchain-based assets and what assets are subject to securities laws.
The Anti-CBDC Surveillance State Act, which bans the Federal Reserve from issuing a CBDC directly to individuals or indirectly through intermediaries.
GENIUS was signed into law on Friday and marks the first time we have seen actual US federal legislation on crypto. But GENIUS and Clarity are far from perfect, and they even make crypto advocates shudder. Several critics rightfully question why NFTs, airdrop tokens and DeFi applications are exempt from Clarity’s rules. Others ask why FDIC insurance isn’t mandated for stablecoins or why interest-bearing stablecoins are prohibited.
Overall, these bills made me feel more meh than excited! There is still a long way to go as Clarity and the Anti-CBDC bill make their way through the Senate.
Brogan Law provides a thorough breakdown of these three measures and outlines the next steps for regulatory clarity (pun unintended) in crypto.
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