The GENIUS Act: US Cryptocurrency-Friendly Stablecoin Law Set for Final Vote
The final voting day has arrived on the GENIUS Act, the long-awaited US cryptocurrency-friendly stablecoin law. This legislation lays the groundwork for the first major federal regulation of stablecoins, with the U.S. Senate set to hold its final vote today.
Chainlink (LINK) CEO Sergey Nazarov has weighed in on the significance of the GENIUS law. Nazarov believes that stablecoin regulation in the US will not only stimulate global growth but also raise the bar in terms of transparency and cross-chain functionality.
Nazarov emphasized that the impact of the stablecoin law in the US will be felt worldwide. He pointed out that stablecoins will require proof of reserves and interchain connectivity to be utilized as a reliable payment source.
Highlighting the role of Chainlink in this ecosystem, Nazarov noted that Chainlink is currently the only platform that offers both proof of reserve and inter-chain connectivity within a single system.
As stablecoins are poised to play a pivotal role in the future of finance, Nazarov expressed his confidence in Chainlink’s ability to secure, connect, and ensure compatibility for stablecoins right from the early stages.
Stablecoin regulation in the US will kick off a wave of new stablecoins in the US and all over the world. They will all need proof of reserves and cross-chain connectivity to be used as a source of payment for the growing digital asset economy and tokenized funds.
Chainlink is…
— Sergey Nazarov (@SergeyNazarov) June 17, 2025
*This is not investment advice.