GENIUS Act Includes Clause to Block Big Tech and Wall Street from
0Adoption
GENIUS Act
Stablecoin
Disparte referred to the measure as the “Libra clause,” a nod to Meta’s failed attempt to launch a global digital currency.
Crypto Journalist
Amin Ayan
Crypto Journalist
Amin Ayan
About Author
Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has...
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Last updated:
July 21, 2025
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A key provision in the recently passed GENIUS Act aims to curb the influence of tech conglomerates and major financial institutions in the U.S. stablecoin market, according to Circle Chief Strategy Officer Dante Disparte.
Key Takeaways:
The GENIUS Act includes a clause that blocks Big Tech and banks from dominating the stablecoin market.
Both non-banks and traditional banks must establish separate entities to issue stablecoins.
A ban on yield-bearing stablecoins may drive institutional investors toward DeFi platforms.
Speaking on the Unchained podcast, Disparte referred to the measure as the “Libra clause,” a nod to Meta’s failed attempt to launch a global digital currency.
Under the clause, any non-bank entity seeking to issue a dollar-backed stablecoin must establish a standalone operation to navigate antitrust...
https://cryptonews.com/news/genius-act-includes-clause-to-block-stablecoin-dominance/
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