According to online reports, Jesse McWaters, global policy director at Mastercard, said that the United States has reached a "turning point" in stablecoin regulation and digital asset adoption. The passage of the Genius Act has become a catalyst for institutional participation, marking "a new era of clarity and confidence in digital asset regulation." The bill allows regulated entities, including banks and corporations, to issue dollar-backed stablecoins while meeting strict reserve, disclosure and compliance requirements. This is the first special cryptocurrency legislation to become law in the United States.