The US is getting closer and closer to making stablecoin rules a thing.
There’s this bill called the GENIUS Act that’s been in the works for a while, and it’s meant to establish clear rules for stablecoin issuers.
If it passes, that would be a big W. Clear regulations = more trust and easier adoption.
And yesterday, the Senate voted 68–30 to move the bill past the filibuster stage, which means no more stalling – it’s officially heading into final debate.
Next up: 30 hours of discussion → then a full Senate vote, possibly on June 16 or 17 → if it passes there, it goes to the House → if the House approves it too, it heads to the President to be signed into law.
So… yeah, there’s still a chance it doesn’t make it all the way.
But honestly, the fact that the Senate is even taking the time to push a stablecoin bill this far says A LOT about where the US is heading with crypto.
(Oh, and if you want a deeper look at what’s in the bill + why some people think it sucks – check out our previous edition.)
Now you’re in the know. But think about your friends – they probably have no idea. I wonder who could fix that… 😃🫵
Spread the word and be the hero you know you are!
🗣️ Another one
Just last week, we talked about a South Korean media company trying to pull a Metaplanet and rebrand itself into an all-in Bitcoin business.
And now? Another one joins the cool kids club 😎
Mercurity Fintech – a blockchain-based fintech group – announced they’re raising $800M to build their own long-term Bitcoin treasury reserve.
Shi Qiu, the company’s CEO, said:
“We’re building this Bitcoin treasury reserve based on our belief that Bitcoin will become an essential component of the future financial infrastructure. We are positioning our company to be a key player in the evolving digital financial ecosystem.”
Translation: they saw the charts and caught a case of the Bitcoin FOMO.
And how bad’s the virus?
Well, according to a report from Gemini and Glassnode, Bitcoin treasuries now control almost a third of the total BTC supply.
(We already covered whether this much hoarding is good or bad for the rest of us, btw.)
Either way, one thing’s obvious: the institutions are here, and they’re not leaving anytime soon.
