Stablecoin Market CapThe new act has sent the stablecoin market in high esteem. "The GENIUS Act creates a clear and simple regulatory framework to establish and unleash the immense promise of dollar-backed stablecoins. President Trump after signing the Genius Act said it is the first step in making the "crypto capital of the world". Republican Congressman was more brutal in his criticism of the Genius Act. "The GENIUS Act doesn’t just greenlight corruption — it invites a crisis", he warned.