GENIUS Act Signed into Law, Redefining US Crypto Regulation

The US government has made significant strides in regulating cryptocurrencies with the passage of the GENIUS Act, which has moved from an executive order to law in just six months. This expedited process reflects a shift towards more adaptive regulatory frameworks.

Peter Phelan, VP of Strategic Advisory at Elliptic, highlights the importance of adapting to these changes quickly. Companies involved in crypto must now prepare to adjust their compliance programs to align with the new regulations.

The GENIUS Act introduces a new compliance framework for digital assets, emphasizing continuous monitoring over traditional validation methods. Effective immediately, it targets all entities handling crypto assets to ensure alignment with new regulations.