Last night, the Senate passed the GENIUS Act: 68 in favor, 30 against, with strong bipartisan support.
For the first time, the U.S. will have a federal framework for dollar-backed stablecoins:
- 1:1 Reserves — Every stablecoin must be backed by cash or short-term U.S. Treasuries
- Monthly Disclosures — Issuers must publish a clear breakdown of their reserves
- Federal Oversight — Unified national supervision under a dedicated authority
- Clear Legal Rules — Stablecoins become a regulated part of the U.S. financial system
But now, let’s talk Europe.
While the U.S. embraces open dollar rails, programmable money, and composability with DeFi…
The EU is stuck treating EMTs as sacred and untouchable.
But in today’s geopolitical and fiscal context, this rigidity is dangerous.
The U.S. framework is remarkably similar to MiCA, but without its self-imposed limits:
- No arbitrary caps
- No ban on interest-bearing stablecoins
- No public/private double standards
And most importantly? It unlocks fiscal space!
Stablecoins could create trillion-dollar demand for U.S. Treasuries, boosting liquidity, deepening capital markets, and reinforcing U.S. monetary power globally.
Meanwhile, Title IV of MiCA actively prevents that same dynamic for the euro.
It's time to stop pretending that the current EU model is fine.
If we want the euro to compete, we need to amend MiCA. Now.
Why this vote matters?
Stablecoins power:
- $100B+ in daily crypto volume
- Cross-border remittances
- On-chain FX and lending
- Institutional onramps
- Tokenized assets and programmable payments
Regulation was the missing piece. This vote changes that.
What’s next:
July — House vote expected
August — Trump likely to sign it into law
This is a turning point.
The U.S. is moving fast and smart.
Europe must stop watching from the sidelines.
It’s time to unlock euro stablecoins, fix MiCA, and lead with substance, not sandboxes.
Because the future of finance is on-chain.
Let’s build.
Let's understand.
Letz Offchain.🧡
