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U.S. Stablecoin Bill Progress Could Ignite Multi-Year Crypto Bull Market, Bitwise Says
U.S. Stablecoin Bill Progress Could Ignite Multi-Year Crypto Bull Market, Bitwise Says
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The U.S. Senate’s advancement of the GENIUS Act signals potential regulatory clarity for stablecoins, a development Bitwise’s CIO Matt Hougan calls "the most important regulatory milestone since Bitcoin ETFs." Stablecoins—cryptocurrencies pegged to assets like the U.S. dollar—serve as the backbone of crypto markets and cross-border payments.
Hougan suggests this legislative progress could surpass the impact of January 2024’s spot bitcoin ETF approvals. With the bill nearing a final vote, the crypto industry anticipates its first major U.S. regulatory framework by summer, potentially unlocking institutional capital inflows.
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