GENIUS Act & JP Morgan’s Entry Into Stablecoin Race: Full Breakdown Inside!

JP Morgan appears to be gearing up for a potential stablecoin offering as the GENIUS Act awaits the final Senate passage. The GENIUS Act, officially known as the Guiding and Establishing National Innovation for U.S. Stablecoins Act, is set to reach its last stage in the Senate on June 17th. Senator Bill Hagerty, the bill’s sponsor, is rallying support, stating, ‘The GENIUS Act will modernize America’s payment system.’ Analysts anticipate the hype around CRCL stock and other stablecoin investments to diminish once industry giants like JP Morgan enter the market.

JP Morgan’s interest in the U.S. stablecoin sector coincides with the GENIUS Act’s progression through the Senate. Senator Hagerty’s vision for the bill aligns with the industry’s push towards innovation. ETH has been a popular choice for indirect exposure to the stablecoin market before the emergence of CRCL stock. Tether’s USDT remains a dominant player in the stablecoin space with a market cap of nearly $155 billion.

Sam Boolman | Crypto Enthusiast and Writer

Sam Boolman is a contributing writer at ChainIntel.org with a long-standing interest in cryptocurrency, blockchain technology, and emerging financial trends. A self-directed trader who actively invests his own capital, Sam follows the markets closely and brings a hands-on perspective to the fast-paced world of crypto journalism. With a background in business and digital media, Sam has written across a variety of sectors including tech, startups, and online finance. His curiosity and enthusiasm for the evolving digital economy fuel his exploration of Web3, decentralised finance, and market developments. Sam is passionate about making complex topics more accessible to everyday readers and continues to expand his knowledge through research, trading experience, and industry engagement.

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