With the US Senate greenlighting the GENIUS Act, stablecoins no longer operate in a legal grey zone but are stepping into the financial mainstream. Seen as a pivotal moment for the crypto industry, the legislation offers long-awaited federal clarity for dollar-pegged digital currencies, setting the stage for stablecoins to anchor real-time settlements, DeFi innovation, and institutional adoption.

Even as Bitcoin and Ethereum consolidate in tight ranges, analysts observed that the regulatory breakthrough is fuelling optimism across the ecosystem. ETF inflows remain strong, with $388 million for BTC and $19 million for ETH on Wednesday alone, signalling investor confidence amid monetary policy uncertainty.

On Tuesday, the US Senate approved a bill to regulate stablecoins—digital assets typically pegged to the US dollar. Called the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, the legislation introduces a regulatory framework and consumer protection measures to govern the issuance and use of these cryptocurrencies.

“The GENIUS Act is a defining step in legitimising stablecoins as a cornerstone of the digital financial system. Stablecoins are not only critical to on-chain liquidity and real-time settlements but also serve as a gateway to broader crypto adoption. With clear regulatory guardrails in motion, the US is creating the right conditions for stablecoins to scale responsibly, unlocking their potential in payments, DeFi, and beyond,” Raj Karkara, COO, ZebPay said.

Maturing market

The legislation signals a maturing market where digital assets no longer operate in a regulatory vacuum but are being integrated into the broader financial ecosystem, Kushal Manupati, Regional Growth & Ops Lead of South Asia, Binance added.

“This is not just good policy, but a strategic move that sets the stage for mass adoption of digital finance infrastructure. The talks around the inclusion of mainstream players highlight the growing seriousness of digital payment rails and stablecoin-backed solutions. As retail and tech giants prepare to innovate in this space, the spillover effects on liquidity, adoption, and user confidence are likely to be significant,” he said.

The combination of regulatory progress, institutional inflows, and infrastructure development paints an optimistic picture for crypto’s long-term trajectory, Manupati said.

However, as of June 18, Bitcoin was trading between $104,200 and $105,600, struggling to break past the $105,500 resistance level. A move above $106,150 could signal a bullish trend toward $108,800–$110,000, shared Riya Sehgal, Research Analyst, Delta Exchange. The price forming lower highs suggested weak buying momentum.

Ethereum hovered near $2,520, below the key $2,600 support level. It faces resistance between $2,575 and $2,625, and with momentum still weak, it could drop to around $2,320.

Published on June 19, 2025