TechFlow news, February 20 — According to a report by Cryptonews, the latest report from S&P Global Ratings shows that stablecoin market capitalization has grown from $160 billion to $230 billion over the past six months. S&P believes that clearer legal frameworks will drive higher adoption rates of stablecoins.
Currently, the United States is advancing three major stablecoin regulatory bills. These include the "Payment Stablecoin Clarification Act" proposed by Representative Patrick McHenry, which emphasizes state-level regulation; the "Lummis-Gillibrand Payment Stablecoin Act" introduced in the Senate, requiring stablecoins to be fully backed by liquid assets; and the "GENIUS Act," supported by multiple senators, which establishes a dual oversight model involving both state and federal authorities.
S&P pointed out that the European Union has already implemented its Markets in Crypto-Assets (MiCA) regulatory framework by mid-2024, while the U.S. currently lacks a unified regulatory system, which has affected institutional adoption.
