The United States’ recent overhaul of crypto‑currency regulation is expected to spur overseas stable‑coin usage and expand financial institutions’ investment. Sid Badridge evaluated that the administration’s new “Genieus Act” will likely elicit similar policy shifts in other countries. His point was that this regulatory change does not merely affect the current administration but could reshape the entire crypto‑currency industry in the long run.
In an interview on October 23 with Wolf O’Brew Street, Badridge explained the U.S. policy direction and the core of the Genieus Act. Drawing on experience interacting with banks, institutions, and start‑ups worldwide, he assessed that the U.S. shift would be positive for the stable‑coin market. He cited earlier periods when some central banks had taken a negative stance toward stable coins, but explained that the current attitude has changed completely.
The stable‑coin’s use of U.S. Treasury securities as collateral was part of the background to this policy change. Badridge said that while past administrations treated stable coins as a dollar‑system risk, now they view them as an opportunity; he argued that the U.S. has grown in this regard more than many other major twenty countries and that it plays an important role in the economy without being overly influential.
He also noted that banks’ investment in crypto‑currency is not limited to one‑off experiments. Badridge said that large banks such as JP Morgan have repeatedly held conversations, established dedicated teams and subsidiaries for crypto‑currency, and have invested substantial funds. He explained that the investment is not just a single product but spans from a few projects to many major businesses. He added that, aside from banking, the most robust existing industry outside government has been this area; he said that before technologies improving bank functions were accepted, it faced some resistance. “Once you understand that, after about ten years of development how it works is verified, you cannot ignore it,” Badridge emphasized.