US Steps Ahead In Crypto Race With GENIUS Act: What It Means For India And Emerging Markets
In the past weeks, the United States made its most decisive move towards becoming the nerve centre of the global digital asset economy. The passage of the landmark legislation, the GENIUS Act, marked the clearest indication that America intends to lead the next financial revolution, both at home and globally.
The GENIUS Act, signed by President Trump into law, is a federal regulatory for stablecoins, a type of cryptocurrency which is pegged to a reference asset to ensure stability in its price. By regulating stablecoins, the US is now embedding dollar deeper into the fabric of digital finance, which presents strategic implications for India and other emerging markets. This means, the conversation in these markets can no more be about whether to engage in cryptocurrencies, but more about how to catch up without ceding ground to the US, and balancing policies for stablecoins denominated in their own fiat currencies.
The CLARITY Act, passed by the House on July 17 with a 294–134 vote, is awaiting Senate action and would assign clear CFTC vs. SEC jurisdiction over digital assets, giving much needed clarity on regulatory definition for digital assets. After years of ambiguity around digital assets, this move unlocks a new era of innovation and institutional participation. As countries increasingly pursue regulations on digital assets in their own jurisdictions, it is becoming increasingly clear that the US aims to win the race on their adoption and regulation.
While regulation matured on one side of the world, the market danced its familiar rhythm to these new tunes. Bitcoin led, reaching record highs of $1,23,000. Ethereum followed, and other altcoins rallied. XRP touched an all-time high of $3.66, rewarding those who held through years of dormancy. We are amid a full-blown bull market. Portfolios built patiently over years are now bearing fruit. For Indian investors, this moment brings with it, a chance for a shift in perspective. It is time to stay informed, agile and think long-term. Wealth is built in cycles but maintained through patience and persistence.
Tech momentum continues via Layer 1, 2, RWA, and DApp expansion, building essential infrastructure and utility that can inform India's own digital asset frameworks. India and other markets are observing these developments closely, in order to build resilient and inclusive financial systems of their own.
For us, the opportunity lies in learning from global progress, engaging with global standards, and giving way to frameworks that support adoption and innovation locally. With its deep roots in technology, rising investor interest, and highly equipped talent, India is well-positioned to leverage this momentum and contribute meaningfully to the digital asset landscape. India has the talent, interest, and urgency to engage by aligning with global frameworks, investing in blockchain infrastructure, and drafting stablecoin policies that preserve sovereign currency value while enabling growth to ensure long-term value for all stakeholders in this evolving ecosystem.
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