The United States' cryptocurrency legislation drives a $4 billion surge in stablecoin supply.

[US cryptocurrency legislation drives stablecoin supply surge of $4 billion] According to Cointelegraph, the GENIUS Act's ink is barely dry, yet its ripple effects are already being felt throughout the Crypto Assets industry. In just seven days, the industry has added nearly $4 billion in funding, pushing the stablecoin market capitalization beyond $264 billion and stimulating corporate interest in related investments. This surge is not surprising. This landmark legislation provides banks, asset management companies, and other institutional investors with a federal framework for issuing stablecoins backed by fiat currency, without the imminent threat of enforcement actions from the U.S. Securities and Exchange Commission (SEC). With the clarity of regulations comes new capital, new participants, and more intense competition. Signs of this shift had already appeared even before the introduction of the GENIUS Act.