The GENIUS act will cement stablecoins as the basis of the global crypto economy. Can Bitcoin reach it’s full potential if that happens?
Theres been an unprecedented tailwind in Washington DC this year for stablecoins. From the embrace of the assets by politicians and the industry to the GENIUS stablecoin legislation passing the Senate, 2025 marks an important turning point.
Treasury Secretary Scott Bessent even tasked stablecoins with nothing less important than ensuring the greenback remains the worlds number one currency. As President Trump has directed, we are going to keep the U.S. the dominant reserve currency in the world, and we will use stablecoins to do that,” he said at the Digital Assets Summit in March.
Which is why its almost bizarre to realize that stablecoins a descendant of Bitcoin a decentralized currency designed to level the playing field in a world of rigged centralized banking systems and overzealous governments. Stablecoins and Bitcoin would seem to have two irreconcilable aims the former supports the existing fiat based financial system and the latter wants to overthrow it.
So what happens once the GENIUS Act is enacted? Are we headed for a showdown between stablecoins and Bitcoin?
