Regulating Stablecoins: The Genius Act and Its Implications

This chapter examines recent U.S. regulations concerning stablecoins, focusing on the introduction of the Genius Act designed to regulate this burgeoning cryptocurrency sector. The discussion highlights the instability of stablecoins amid recent bank failures and liquidity crises, illustrating the urgent need for regulatory oversight. Additionally, the origins of stablecoin technology, particularly linked to PayPal and its key innovators, are explored to provide context for today's financial landscape.