Oh, darling! It seems our dear friends at TRM Labs have uncovered a rather delightful tidbit: stablecoins now account for a staggering 60% of all cryptocurrency transaction volume! Quite the leap from a mere 35% just two years ago, wouldn’t you agree? 🎉
And all this growth, mind you, without a clear federal regulatory framework. But fear not! With the Senate’s recent passage of the Genius Act, we might finally see some clarity in this delightful chaos. One can only hope! 🙏
Global Stablecoin Adoption: A Love Story
According to the blog, in the first quarter of 2025 alone, stablecoins made up 28% of total crypto transaction volume. How positively thrilling! TRM also noted that the top stablecoins have consistently held at least 4% of the cryptocurrency market capitalization throughout 2024 and 2025. Talk about a stable relationship! 💞
“TRM data shows that stablecoins have become a core feature of digital asset markets — not just for trading, but for payments, remittances, and savings as well,” the blog read. Well, isn’t that just charming? 💁♂️
It’s worth noting that US dollar-pegged stablecoins are the belle of the ball for many in the crypto sector. In fact, over 90% of the fiat-backed stablecoins in circulation are linked to the US dollar. How very predictable! 💵
A Ray of Hope
The GENIUS Act is a crucial step in addressing these challenges. This legislation aims to establish a federal framework for stablecoin regulation, focusing on consumer protection, market stability, and US leadership in digital finance. It includes several provisions aimed at curbing the illegal use of these assets. How very responsible! 🧐
BeInCrypto reported yesterday that the bill passed a Senate Vote with strong bipartisan support, marking a substantial milestone for the legislation. Bravo! 👏
“The Senate’s passing of the GENIUS Act is a momentous step in the right direction for the country. Stablecoin regulation will benefit all Americans as it serves as the cornerstone for not just blockchain innovation but financial autonomy. This bill proves that there’s an overwhelming bipartisan majority that understands the massive potential stablecoins can bring,” Veronica McGregor, Chief Legal Officer of Exodus, told BeInCrypto. How eloquent! 💬
She also commended the Senate for its determination to pass the bill with bipartisan support. Now, the GENIUS Act will waltz its way to the House of Representatives. McGregor expressed her anticipation for the legislative momentum to carry over there as well. Fingers crossed! 🤞
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2025-06-18 12:20