Stablecoins are nearing mainstream adoption as the U.S. Senate advances the GENIUS Act, a bill aimed at regulating their use, according to a report by John Towfighi of CNN. Backed one-to-one by assets like the U.S. dollar, stablecoins offer a more stable alternative to volatile cryptocurrencies and are increasingly used for digital and cross-border payments. The market has grown rapidly, from $20 billion in 2020 to $246 billion in 2025. While regulation could legitimize the industry, critics warn the bill may not go far enough to address risks. Towfighi writes:
Stablecoins are on the verge of going mainstream, analysts say, as a landmark regulatory bill makes its way through Congress.
The Senate is deliberating the GENIUS Act, which would provide a framework for regulating stablecoins. The bill last week passed a major procedural hurdle in the Senate after initial resistance from some Democrats.
Stablecoins are a type of crypto asset that is tied to the value of another asset, such as the US dollar or gold. […]
The total market value of stablecoins surged from $20 billion in 2020 to $246 billion in May 2025, according to analysts at Deutsche Bank. […]
Two of the major stablecoin issuers are El Salvador-based Tether, which issues USDT, and US-based Circle, which issues USDC — and both of these stablecoins are pegged one-to-one to the dollar. […]
“Stablecoins are on the cusp of mainstream adoption in 2025 as the US pushes forward with landmark legislation,” analysts at Deutsche Bank said in a May note. Despite some resistance in the Senate, the analysts “still expect progress this year.”
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