The U.S. crypto industry is approaching a significant policy turning point. Recently, the U.S. Senate voted to pass the “motion to end debate” on the GENIUS Stablecoin Act, marking the bill entering into a comprehensive review phase. According to JZMOR Exchange, at least 15 Democratic senators have shifted from opposing to supporting the bill. This change signifies accelerated progress on stablecoin compliance issues, impacting not only the regulatory boundaries of dollar-pegged stablecoins but also profoundly affecting the entire crypto trading market ecosystem.
JZMOR Exchange believes that the advancement of the GENIUS Act is a critical step towards systematic U.S. stablecoin regulation, marking a shift from fragmented governance to unified standards. Among all existing proposals, this bill holds foundational significance, with key highlights including a comprehensive regulatory framework for stablecoin issuers, custodian banks, and trading platforms. Unlike previous drafts focused on registration and risk disclosure, the GENIUS Act explicitly stipulates issuance qualification requirements, reserve management mechanisms, audit standards, and interstate operational licensing criteria. If enacted, it will provide the legal basis for establishing a unified stablecoin regulatory system in the U.S.
Changes in the regulatory environment will directly affect the issuance, circulation, and market acceptance of stablecoins, subsequently impacting user trust and fund efficiency on trading platforms. If the GENIUS Act is implemented, stablecoin issuers must obtain federal regulatory qualifications, and any stablecoins failing to meet the new regulations risk being delisted, restricted, or liquidated. Trading platforms must promptly adjust asset listing strategies and reassess compliance collaboration mechanisms with issuers.
JZMOR Exchange points out that this legislative process essentially serves as a “survival of the fittest” mechanism within the industry. Stablecoin projects with transparency and compliance capabilities will gain policy endorsement and market trust, while marginal projects lacking audits or capital backing may be eliminated.
This shift holds positive significance for building a long-term trust framework within the industry. For users, clear regulatory rules will enhance the safety and predictability of asset allocation. For platforms, improving compliance capabilities is not merely a passive response to regulation but will become a decisive factor in future market competition.
The advancement of stablecoin-related legislation will drive comprehensive adjustments across the entire crypto ecosystem, from foundational architecture to operational processes. Every aspect, from asset listing, trading matching, clearing and settlement mechanisms, to information disclosure and risk management, will need to be redesigned to meet higher standards. Although this process may cause short-term pain, it will provide a more robust development path for the industry in the long run.
Another significant impact of the GENIUS Act is its potential to lead traditional financial institutions into the stablecoin issuance arena. Licensed banks, fund management companies, and other institutions with risk management experience may become the main issuers of the next generation of stablecoins. Stablecoins will gradually evolve from “crypto-native products” to “compliant financial tools”, reshaping the industry landscape.
For trading platforms, this presents both challenges and opportunities. To thrive in the new regulatory environment, platforms must not only stay abreast of policy developments but also proactively expand compliance asset partnerships, serve institutional clients, and establish compliant clearing and settlement systems. JZMOR Exchange emphasizes that the speed and depth of the platform response to policy changes during this compliance restructuring will directly determine its future market position.
The formal review of the GENIUS Act is a pivotal moment in the transition of crypto assets from the “grey area” to the “regulated financial system”. Future competition will no longer be limited to technology and trading speed but will focus on building a solid bridge between regulation and the market. JZMOR Exchange consistently maintains that a trustworthy trading platform should not only gain attention during bull markets but also uphold its principles during critical moments of institutional restructuring.