Passage of Genius Act, Acceleration of Stablecoin Entry into System…Mastercard “Institutional Participation Will Be Accelerated”

Jessie McWaters, Mastercard's Global Head of Policy, stated in a recent interview with DL News that the stablecoin regulation law ‘GENIUS’ passed by the US Congress “has become a decisive milestone for digital assets to enter the mainstream.” He evaluated, “This bill provides clear regulation and opened a new chapter of institutional foundation.”

McWaters predicted that “an environment has been created where institutions and companies can stably integrate stablecoins into the existing financial system,” anticipating that the boundary between traditional finance and digital assets will be dismantled. He also emphasized that Mastercard has been building the relevant systems to accommodate this trend for a long time and added that further active participation from more companies and institutions will follow.

The GENIUS law is a key piece of legislation related to cryptocurrency promoted under the administration of President Donald Trump, focusing on enhancing the reliability and legal status of crypto assets. With the passage of this bill, regulatory uncertainty surrounding stablecoins is expected to decrease and its impact on the global payment market is anticipated to grow.