According to Phil Kwok, the Genius Act does not apply to endogenously collateralized payment stablecoins, clarifying a common misconception in the market. Traders should note that this clarification potentially reduces regulatory uncertainty for projects utilizing endogenous collateral models, which may affect the risk perception and valuation strategies for stablecoins employing such mechanisms. Source: Phil Kwok via Twitter.

According to Eleanor Terrett, a newly updated version of the Senate’s GENIUS Act that proposes a regulatory framework for payment stablecoins has been introduced on the Senate floor by Senators Hagerty, Tim Scott, and Lummis. This legislative development signals potential for clearer compliance requirements and increased institutional adoption of stablecoins, which could impact trading volumes and liquidity for USD-backed digital assets. The move follows comments from Senator John Thune to GOP senators and reflects growing bipartisan attention to crypto regulation in the U.S. market (source: Eleanor Terrett on Twitter, May 1, 2025).