Stablecoins: Bringing order to crypto

Since their inception, cryptocurrencies have had a reputation for being a volatile asset class. However, the US Congress passed the Guiding and Establishing National Innovation for US Stablecoins (GENUS) Act, creating a legal framework for US dollar-denominated, privately issued stablecoins. Stablecoins are digital tokens backed by highly liquid assets. The GENIUS Act not only furthers the digitisation of national and cross-border payment systems, but also introduces consumer safeguards. The Act sets up stablecoins to play a big role in the future, but confidence and trust in the fiat money...