The U.S. approval of its first major federal cryptocurrency law will likely give a modest boost to crypto adoption -- primarily stablecoins -- among large corporations and well-capitalized financial institutions. However, broader public adoption will remain limited in the near term due to weak regulatory oversight and ongoing risks such as price volatility, theft and fraud. On July 18, U.S. President Donald Trump signed the GENIUS Act into law, formally enshrining federal legislation for the first time to regulate the cryptocurrency industry. His signature was the culmination of several days of intense legislative debate and procedural hurdles on the House floor that led Trump to personally contact several skeptics to press them to pass the bill. Two other accompanying bills, the CLARITY Act and the Anti-CBDC Surveillance State Act, were also approved in the House and have moved to the Senate, though they are expected to meet more resistance, particularly...
