$NEAR
Fading QuicklySnapshot Window: 2026-07-21 08:50 UTC · ← Back to Crypto Overview
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JUST IN: Circle CEO talks GENIUS ACT and CLARITY ACT on CNBC "Once the GENIUS ACT goes into effect in January, every major institution, every major bank, every capital markets firm, payments companies, enterprises, can all now build on this infrastructure" [Spoken audio]: custody, digital assets, stable coins, other tokenized assets, and it gives us the infrastructure to manage USDC directly as the largest regulated digital dollar in the world. So, a lot of people thought that was what the Genius Act did and what the Clarity Act, which is, I don't know if it's going to pass or not, is going to do. Well, the Genius Act set the federal law, under the federal law, a stable coin issuer, a large stable coin issuer must be supervised by a national bank regulator like the OCC. So we need to fit into their glove as it were and the right way to do that is as a national trust bank. And so we are basically conforming with the law, which will go into effect in January of 2027. So the implementation really requires us to evolve our own, you know, kind of fiduciary and regulatory apparatus as well. So the next steps are? Well, I mean, look, we're now, right now we're in, in my view, in the still the very early stages of the stablecoin market. It has really been a market that grew out of the digital asset trading market. It's now becoming a market for payments. It's now penetrating capital markets with major capital markets firms. But once the Genius Act goes into effect in January, every major institution, every major bank, every capital markets firm, payments companies, enterprises, public companies can all now build on this infrastructure treated as digital cash in the economic system. And that's a huge opening up. And that's why analysts look at this from a trillion dollars to several trillion dollars in the coming years, so we're at the start. And so for us, it's getting the infrastructure right, getting the regulatory infrastructure right all around the world, getting the technology right, and then building the right global partnerships as well.