Crypto regulation advances as GENIUS Act gets fresh support and Wyoming nears stablecoin launch. Industry study projects 1,500% growth potential for stablecoins by 2030.

Lawmakers across all parties are making efforts to restore the GENIUS Act, a stablecoin bill supported by the leading crypto market players. Last week, the legislators paused discussions on the bill after public criticism over U.S. President Donald Trump’s rising interest in crypto-related investments.

During a recent interview, Republican Senator Bill Hagerty (from Tennessee) stated that members from the two parties have resumed discussions on the bill. He added that the bill could be passed before Memorial Day if Democrats agree.

Democratic Senator Angela Alsobrooks from Maryland confirmed Hargerty’s statement but didn’t provide further details.

Why the U.S. Senate Stalled the Bill?

Earlier this month, the U.S. Senate decided against continuing the discussion on the GENIUS Act via votes, which was a massive setback for the crypto player’s push for clarity regarding the regulations governing the industry.

Most democrats cited concerns about the U.S. President’s involvement in crypto, especially his fundraising dinners and memecoin. Last week, Abu Dhabi announced it would invest $2 billion into the popular cryptocurrency platform Binance using the USD1 stablecoin. This stablecoin is owned by World Liberty Financial, a DeFi project backed by the trump family.

Wyoming Nears Launch of First State-Issued Stablecoin

Meanwhile, Wyoming is aiming to become the first U.S. State to have a state-issued stablecoin. Hence, the state’s stable token commission (WYSTC) has collaborated with Inca Digital (a top analytics provider) to help the agency monitor and prevent fraud risks.

Inca Digital will also help ensure that the Wyoming stable token (WYST) remains secure as the launch date approaches. The company’s official statement shows that it will also provide cross-market oversight and advanced analytics.

Two months ago, Wyoming Governor Mark Gordon said that the token’s test phase would end by the second quarter of 2025, while the plan is to launch by July. The U.S. State has established friendly laws for the crypto sector in the past as part of its efforts to become a crypto and blockchain hub.

Since 2018, the state has attracted more than 3,000 tech firms, having passed over 35 laws regulating the cryptocurrency industry. A director of the WYSTC, Anthony Apollo, stated that the collaboration with Inca Digital is an important step in ensuring innovation, transparency, and security.

Like others, the Wyoming stablecoin is also pegged to a fiat currency. After launch, the WYST can be redeemed for one U.S. Dollar and is fully backed by repurchase agreements, U.S. Treasuries, and cash.

On-chain data shows that the stablecoin market cap is currently $245 billion, showing a sign of rapid growth. According to a recent forecast by a reputable fintech firm, once the stablecoin bill becomes law, this market cap could rise tenfold and become a $2 trillion sector within three years.

Stablecoin Market Cap Could Overtake Entire Crypto Industry in Five Years: Study

In a related development, a new study has revealed that the stablecoin market cap could soon surpass the market cap of the entire crypto industry, which is $2.48 trillion as of the time of writing. According to the study, the most likely outcome is that the total outstanding supply of this market will rise to $1.6 trillion within the next five years.

However, a more optimistic projection puts the market cap at $3.7 trillion within the same period. The report predicts that stablecoin will see significant regulatory advancements this year. Hence, 2025 is the year these crypto assets will start gaining greater adoption in many sectors, particularly finance.

However, the study stated that the stablecoin market cap may not surpass $500 billion if there are still adoption and integration issues. Should the prediction become a reality, the stablecoin market cap would have increased by 600% from its current value or 1,500% based on the more optimistic projection.

The report believes these coins’ use could expand into remittances for the mainstream economy in addition to their current use as tokenised cash for crypto traders and to settle financial transactions.

The report also expects stablecoin issuers to have purchased up to $1 trillion in new U.S. Treasuries to back their stablecoins by 2030. When this happens, these issuers will hold more U.S. Treasuries than any other jurisdiction.

---

At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.