US CRYPTO REFORMS

STIR UP INTEREST IN UAE With stablecoin rules, major Bitcoin buys, crypto gains new footing in regulated markets

- BY JUSTIN VARGHESE Your Money Editor

The world of cryptocurrency just got a serious credibility boost, and UAE investors may soon feel the ripple effects.

In two significant develop-ments this past week, the US Senate passed a landmark bill to regulate stablecoins, and regulators greenlit a massive Bitcoin investment plan by Trump Media — together rein-forcing digital assets’ entry into the financial mainstream.

While uncertainty still hangs over the wider crypto market, these moves suggest a regulato-ry shift toward acceptance and oversight — which may open new opportunities for UAE-based investors, startups, and even regulators watching how the US is setting the pace.

Last week, the US Sen-ate passed the GENIUS Act, a first-of-its-kind bill to regu-late stablecoins — digital cur-rencies backed by assets like the US dollar. The bill passed with strong bipartisan support (68-30), and now heads to the House of Representatives.

WHAT’S IN IT? KEY HIGHLIGHTS:

■Stablecoin issuers must back coins 1:1 with liquid assets like cash, short-term US Treas-ury bills, or bank deposits.