Explainer | What is the Genius Act, and can it really cement US dollar supremacy?
The US’ new crypto regulation bill aims to ensure the dollar remains the world’s reserve currency
At last week’s Bitcoin 2025 conference in Las Vegas, there was one phrase on everyone’s lips: the Genius Act.
Vice-President J.D. Vance used his speech at the event to urge lawmakers to pass the bill – also known as the Guiding and Establishing National Innovation for US Stablecoins Act – which is currently the subject of heated debate on Capitol Hill.
“Dollar-pegged stablecoins, particularly once Genius is enacted, are only going to help the American economy and it’s only going to help the American dollar,” Vance said.
But what exactly is a stablecoin, what is the Genius Act, and what would it actually mean for the future of the US dollar?
The Post breaks down what financial experts are saying about the bill and its implications for the global economy.
What is a stablecoin?
A stablecoin is a form of cryptocurrency, like bitcoin. But unlike bitcoin, whose value is largely determined by the market, a stablecoin – as the name suggests – is designed to maintain a stable value relative to certain assets, usually a currency.