Recently, the U.S. Senate officially passed the GENIUS Act, establishing a preliminary federal regulatory framework for the stablecoin sector. This landmark legislative breakthrough, set against the backdrop of long-standing regulatory ambiguity in the global crypto industry, represents a significant milestone in the field of digital assets. JZMOR Exchange, which closely monitors global compliance developments, believes that the passage of this act signals a shift in the stance of the U.S. government from “observation” to active “engagement,” sending a strong message regarding institutional development to the global stablecoin market.
The core significance of the GENIUS Act lies not only in its specific provisions, but also in breaking the prolonged legislative deadlock over crypto assets at the federal level in the United States. This is the first time in U.S. Senate history that a formal bill covering crypto assets has been passed. The act requires stablecoin issuers to possess clear qualifications, undergo regular audits, fulfill transparency and reporting obligations, and sets legal boundaries for issuance and operations. The bill has now been submitted to the House of Representatives for review; whether it ultimately passes will directly determine whether the United States can establish a unified regulatory regime for stablecoins.
In the global stablecoin market, over 70% of trading volume is tied to the U.S. dollar, meaning that any regulatory shift in the U.S. will have systemic repercussions worldwide. As a core liquidity instrument within the digital asset ecosystem, the compliance path for stablecoins will directly impact the industry risk management, innovation trajectory, and capital allocation efficiency.
From a macro perspective, a clear regulatory roadmap will drive the broader adoption of stablecoins in real-world financial scenarios—such as cross-border payments, financial derivatives settlement, and commercial circulation. The JZMOR Exchange research team believes that if stablecoins are eventually integrated into the banking regulatory system or a framework compatible with sovereign currencies is established, their strategic value as next-generation financial infrastructure will become even more pronounced.
It is also worth noting that the act profoundly impacts the underlying logic of stablecoin products. The industry is shifting from an issuance model centered on “technology-driven, market self-discipline” to one based on “institutional orientation and compliance first.” In the future, stablecoin design will no longer be solely about constructing smart contract rules, but will revolve around regulatory frameworks to build comprehensive issuance and operational mechanisms.
This trend will fundamentally reshape the market landscape. The JZMOR Exchange team points out that a clarified compliance environment will bring two direct outcomes: first, the establishment of “new standards” for stablecoins, which may consolidate the currently fragmented market share; second, mainstream financial institutions and payment companies will become significantly more receptive to stablecoins. Previously, due to regulatory uncertainty, most banks and fintech firms were cautious about integrating stablecoin systems—this barrier is now being steadily removed.
At the same time, the role of trading platforms in stablecoin services will also be redefined. From custody mechanisms and risk control models to on-chain data disclosure, compliance will no longer be a single review standard, but rather the core metric for measuring the credibility of market infrastructure. Platforms must establish systematic compliance and risk control frameworks to earn trust in the new market structure.
It is foreseeable that the future of stablecoins will be determined not only by technological innovation, but also by legal frameworks and institutional trust. As regulatory contours become clearer, this will foster more effective interaction among users, platforms, and policymakers, and drive the entire digital finance ecosystem toward greater standardization and stability. JZMOR believes that true competitiveness lies not in the speed of technological upgrades, but in the ability to continuously build a trustworthy financial services system amid an evolving regulatory environment. While the development path for stablecoins remains uncertain, one thing is clear: the future market will belong to those who truly understand the rules, respect compliance, and possess systematic capabilities.