Trump’s 2025 GENIUS Act absolutely regulates stablecoins, opening the US crypto market. Nomy Analysis analyzes the worldwide race for next-gen stablecoin management.
On July 18, 2025, President Donald Trump signed the federal GENIUS Act, initiating full regulation of “steady cash” within the U.S. This marked a turning level for each the American crypto market and the worldwide digital asset business, because the world’s largest financial system formally opened its doorways to the authorized circulation of dollar-pegged stablecoins.
Now, main gamers – banks, companies, and even whole nations – will inevitably must meet up with the worldwide pattern. Nomy Research has analyzed how the race for management within the next-generation stablecoin phase will unfold.
Stablecoins on the Worldwide Agenda
China
In 2021, mainland China banned mining and cryptocurrency operations. However towards the backdrop of a brand new international wave of stablecoin regulation, on July 11, 2025, a gathering was held in Hong Kong between the Shanghai State-owned Property Supervision and Administration Fee and representatives of native authorities. Officers responded to calls from consultants and huge corporations to develop a stablecoin pegged to the yuan.
“Given China’s highly effective fintech ecosystem, it has the potential to change into a key participant in shaping the way forward for blockchain-based funds,” commented Nomy Analysis Analyst, Aron Burke.
In June, on the Lujiazui Discussion board, Folks’s Financial institution Director Pan Gongsheng introduced the enlargement of the worldwide use of the digital yuan, the creation of a global e-CNY heart, and the pursuit of a multipolar foreign money system.
Companies are additionally not standing apart. E-commerce firm JD.com and fintech large Ant Group urged the central financial institution to permit the issuance of yuan-pegged stablecoins to counter the rising affect of U.S. dollar-pegged cryptocurrencies. Firms plan to use for licenses to difficulty cash in Hong Kong.
Market members argue that any modifications in China is probably not simple, as capital controls within the nation will probably change into the primary impediment to stablecoin improvement. However lively discussions are already underway, and maybe, towards the backdrop of the U.S. passing the GENIUS Act, the method of related regulation in China will proceed a lot sooner.
European Union
On June 30, 2024, the technical necessities of MiCA got here into pressure. Firstly, stablecoin issuers should get hold of a license within the EU and be registered within the related register. Secondly, issuing corporations are obliged to reveal the construction of reserves supporting the stablecoin, together with common experiences on liquidity and the storage of funds in dependable establishments.
MiCA additionally units limits on transaction quantity: not more than 1 million transactions per day or €200 million per day — in any other case, the asset could also be acknowledged as systemically vital and fall underneath the supervision of the European Central Financial institution.
In January 2025, management intensified when ESMA issued a requirement to take away unlicensed tokens from the market. In April, company representatives additionally expressed concern concerning the lively integration of cryptocurrencies and TradFi. Among the many dangers related to this course of, the regulator named the recognition of stablecoins and ETFs on digital property.
United Kingdom
The UK is constructing a two-tiered mannequin for stablecoin regulation: the FCA will deal with primary registration of issuers, reserves, and custody, whereas the Financial institution of England will oversee systemically vital cost tokens. Key proposals have already been put ahead for public session, with a subsequent transition to ultimate guidelines in 2026. Concurrently, an initiative to launch a CBDC is being promoted, however the Financial institution of England is able to take into account a digital pound solely whether it is satisfied of its profitability.
The Rising Enchantment of Passive Earnings with Stablecoins
As the worldwide regulatory panorama for stablecoins matures, so too does the chance for traders to generate passive income from these digital property. Stablecoins, by their very nature, supply a novel benefit: worth stability. This makes them an excellent automobile for incomes constant yields with out the excessive volatility related to different cryptocurrencies.
Through the years, the potential for passive revenue with stablecoins has elevated considerably, pushed by improvements in decentralized finance (DeFi) and the rising demand for safe, yield-bearing digital property.
Firms like Nomy Finance have been on the forefront of serving to shoppers capitalize on this chance since 2019. Via their sturdy digital wealth administration platforms, Nomy Finance gives entry to safe and aggressive staking and lending packages for stablecoins. For example, shoppers can earn enticing annual share yields (APYs) on their stablecoin holdings, with charges usually ranging and relying on the particular program and market circumstances.
Evaluating Blockchains for Stablecoins 2.0
The selection of blockchain is essential for the way forward for stablecoins. Nomy Analysis has recognized a number of key contenders:
- Ethereum: Stays the dominant platform for stablecoins because of its sturdy ecosystem, established community results, and intensive developer group. Nonetheless, scalability and excessive gasoline charges stay challenges.
- Solana: Affords excessive throughput and low transaction prices, making it a sexy different for stablecoin issuance and transfers. Its rising DeFi ecosystem additional enhances its attraction.
- BNB Chain: Offers an economical and quick surroundings for stablecoin operations, notably fashionable for its centralized alternate integration and huge person base.
- Tron: Identified for its excessive transaction speeds and low charges, Tron has additionally attracted a big quantity of stablecoin circulation, notably USDT.
- Avalanche: Affords a extremely scalable and customizable blockchain resolution, with subnets offering tailor-made environments for particular stablecoin tasks.
Nomy Analysis emphasizes that the best blockchain for Stablecoins 2.Zero will steadiness safety, scalability, decentralization, and regulatory compliance. The long run will probably see a multi-chain approach, with stablecoins leveraging the strengths of various networks for varied use circumstances.
Conclusion
The signing of the GENIUS Act marks a brand new period for stablecoins, paving the best way for broader institutional adoption and international integration. As regulatory frameworks proceed to evolve throughout completely different areas, the panorama for stablecoins will change into extra outlined, opening up new alternatives for innovation and funding.
The race for management on this phase can be pushed by technological superiority, regulatory readability, and the flexibility to supply safe and environment friendly options for each particular person and institutional customers.
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