Journalist

Tanzeel Akhtar

Journalist

Tanzeel Akhtar

About Author

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk, Bitcoin Magazine and Bitcoin.com.

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Last updated: 

June 18, 2025

The U.S. Senate has passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act in a 68–30 vote, marking the first time lawmakers have approved legislation focused on digital assets—a move welcomed by industry leaders.

The bill gained bipartisan support, with 18 Democrats joining most Republicans in favor. Only two Republicans opposed the measure. The GENIUS Act introduces a federal framework to regulate stablecoins, requiring dollar-backed reserves and clearly defined roles for state and federal oversight.

The bill seeks to integrate stablecoins into the broader financial system more securely, responding to longstanding calls from the crypto industry and financial institutions for consistent rules.

Anil Oncu, CEO of Bitpace, called the vote a turning point. “The bill provides the clarity businesses have been waiting for and allows stablecoins’ speed and cost benefits to be safely integrated by banks, PSPs, and card networks,” he said.

Oncu explains that the stablecoin supply has grown from under $10 billion to $239 billion in just five years, showing the need for safeguards and regulatory consistency.

Industry Leaders and Advocates Applaud the Move

Stand With Crypto, a U.S.-based crypto advocacy group, also welcomes the Senate’s decision, describing it as a key step toward securing America’s place in the evolving digital financial lsector.

The group, which represents a grassroots network of developers, users, and builders, advocates for stablecoin regulation to support innovation and consumer protection.

“Stablecoins play a critical role in America’s digital economy, bridging crypto and fiat currencies,” said Mason Lynaugh, community director at Stand With Crypto.

“We need legislation that ensures they are safe, fully backed, and transparent while fostering competition and innovation in the marketplace. This bill moves us closer to that reality.”

The organization says it will score lawmakers based on their votes on the GENIUS Act, using the results in future crypto policy scorecards to track political alignment on key industry issues.

A Bid to Reinforce U.S. Crypto Leadership

Beyond regulating stablecoins, the GENIUS Act is being seen as part of a broader attempt to re-establish the U.S. as a leader in blockchain development.

The lack of clear regulations has pushed some developers and companies abroad. According to Stand With Crypto, the U.S. share of global blockchain developers has dropped by roughly 14% since 2018, falling to 26% by 2023.

Industry voices argue that regulatory uncertainty is hindering and deterring institutional interest in the crypto sector. With stablecoins increasingly used in both retail and business payments, the GENIUS Act is positioned to help bridge those gaps by laying the groundwork.

Liat Shetret, vice president of global policy and regulation at blockchain analytics firm Elliptic, called the Senate vote “a pivotal step in shaping the country’s digital asset future.” She added,

“It’s clear that robust consumer protections and market integrity safeguards were central to driving approval, and the GENIUS Act benefited from strong nonpartisan support.”

The House is expected to take up the legislation in the coming weeks. While some industry advocates have urged rapid passage, others, including the Conference of State Bank Supervisors, are pressing for key changes to address potential risks to financial stability.

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MoonPay, the crypto fintech giant known for its aggressive expansion strategy, is at it again. 

This time, the company has acquired Iron.xyz, a stablecoin infrastructure platform, in yet another move that signals its determination to reshape the digital finance landscape. 

With a track record of strategic acquisitions, MoonPay is proving that it isn’t just playing the game – it’s changing the rules. 

Stablecoins have been a critical piece of the crypto puzzle, ensuring a bridge between traditional finance and decentralized systems. 

Iron’s integration into MoonPay’s ecosystem could mean more robust and seamless fiat-to-crypto transactions, fueling broader adoption. But that’s not where the story ends. 

The bigger picture? Crypto is maturing, and MoonPay is leading the charge. And right on cue, there’s another rising player aiming to push blockchain innovation even further – Solaxy ($SOLX).

What MoonPay’s Move Means for Crypto

MoonPay’s latest purchase aligns with the growing demand for reliable stablecoin infrastructure. In a market where volatility is a given, stablecoins serve as a lifeline, making crypto transactions smoother and more predictable. 

By acquiring Iron, MoonPay is reinforcing its grip on the space, ensuring that users – retail and institutional – can interact with the crypto economy without excessive friction. 

MoonPay’s CEO, Ivan Soto-Wright, highlighted the strategic importance of the deal, saying: 

“This acquisition is a strategic step forward, positioning MoonPay at the forefront of enterprise-grade stablecoin solutions. With Iron’s technology, we’re putting the power of instant, programmable payments into the hands of enterprises, fintechs, and global merchants.”

This isn’t just a small upgrade – it’s a foundational shift. 

With Iron’s infrastructure, MoonPay is making stablecoins more accessible for businesses, opening up a future where cross-border payments happen instantly and seamlessly. 

This positions MoonPay not just as a player in the crypto space but as a serious force in global finance. 

When paired with its earlier acquisition of Helio, a Solana-based crypto payments processor, the direction is clear: MoonPay is building a powerhouse of Web3 financial services.

Solaxy ($SOLX) – Powering the Future of Solana

While MoonPay is busy acquiring stablecoin infrastructure, Solaxy ($SOLX) is all about pushing the limits of what’s possible on the Solana blockchain. 

Solaxy has emerged as a promising new crypto project, combining innovation with a strong community backing. At its core, Solaxy aims to supercharge the Solana ecosystem, enhancing scalability, security, and efficiency. 

Given Solana’s reputation as one of the fastest and most cost-effective blockchains, Solaxy’s innovations could further cement its dominance in the space. But let’s talk numbers, because that’s where things get interesting. 

The Solaxy presale has already raised a staggering $26.6M, and its community is growing at a rapid pace, boasting 72.9K followers on X. 

If you’re looking for one of the best altcoins with massive potential, $SOLX is already making a compelling case for itself. And at just $0.001664 per token, it’s positioned as one of the best presale opportunities in the market today.

In the fast-moving world of crypto, getting in early is often the difference between catching a rocket or missing out entirely. 

Solaxy is one of those projects that could define the next phase of new crypto adoption, offering both investors and developers a fresh playground within the Solana network.

The Bigger Picture

MoonPay’s acquisition spree is a strong signal that the crypto industry isn’t slowing down – it’s just getting started. 

With stablecoin infrastructure becoming more refined and projects like Solaxy pushing blockchain boundaries, the market is evolving into something bigger, smarter, and more accessible. 

If you’re eyeing the best altcoins for 2025, keeping an eye on MoonPay’s moves and Solaxy’s growth could be your best bet.

However, before you invest your money, don’t forget to DYOR (do your own research), as this article is for informational purposes only and doesn’t constitute financial advice. 

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