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In just over 150 days, President Trump's administration has rapidly reshaped US crypto policy by appointing pro-crypto regulators, ending major lawsuits, clarifying staking rules and supporting ETF approvals.
The GENIUS and proposed BITCOIN Acts signal growing institutional and governmental acceptance, enabling safer stablecoin issuance and potentially large-scale Bitcoin adoption. If passed, the BITCOIN Act could make the US a major Bitcoin holder.
This US shift is driving global regulatory momentum, with countries and regions such as South Korea, Pakistan, the EU, UK and Middle East accelerating crypto frameworks in response.
While much attention has been given to ETF approvals and the resolution of lawsuits under the Trump administration, the GENIUS Act may prove to be the most consequential — and most underestimated — development in US crypto policy to date.
By establishing a comprehensive legal framework for stablecoin issuance, the GENIUS Act addresses a core infrastructure gap in the digital asset ecosystem. Stablecoins are the bridge between traditional finance and blockchain-based systems, and GENIUS provides the regulatory clarity needed to unlock both institutional participation and broader public trust.
The GENIUS Act also signals a crucial policy shift in that the US is ready to compete globally by fostering innovation, rather than stifling it. While bold proposals like the BITCOIN Act spark headlines with their ambition, GENIUS is quietly laying the rails that could support exponential growth in crypto usage, payments and financial access.
Stablecoin market capitalization is growing much faster than the M2 money supply, which the US Secretary of the Treasury estimates will exceed $2 trillion.
Senator Cynthia Lummis’s proposed BITCOIN Act would direct the US Treasury to accumulate 1 million bitcoins over five years, creating a strategic reserve that, if held for 20 years, could “reduce our national debt by half,” according to Lummis. Though President Trump has already signed an executive order to establish such a reserve, further legislative action is required to allow new acquisitions. Lummis’s bill would fill that gap.
If passed, the government would be instructed to purchase 200,000 bitcoins annually — around 550 per day — amounting to roughly 0.16% of Bitcoin’s daily trading volume. At current prices, this equates to $57 million daily. A stockpile of this size would surpass all publicly traded company holdings and rival the stash attributed to Bitcoin’s creator, Satoshi Nakamoto.
The bill is already influencing state-level policy. In May 2025, New Hampshire passed HB 302, allowing up to 5% of its public funds (about $113 million) to be invested in Bitcoin. Arizona followed with Bill 2749, creating a reserve from abandoned digital assets without tapping taxpayer money. While some more aggressive state bills have been vetoed, a growing number of US states appear ready to integrate Bitcoin into long-term financial planning.
In Asia, South Korea elected crypto-friendly President Lee Jae-myung, who swiftly introduced the Basic Digital Asset Act. The bill enables non-bank institutions to issue won-backed stablecoins, and grants authority to the Financial Services Commission rather than the central bank. While the move triggered pushback from the Bank of Korea, it marked a bold step toward digital currency integration.
Pakistan unveiled a national Bitcoin strategic reserve and the Pakistan Digital Assets Authority in May 2025, citing inspiration from US policy. The initiative includes a major mining commitment — up to 2,000 MW of energy — which could generate nearly 10% of global Bitcoin output, though the IMF has raised concerns over the potential legal and energy implications.
Meanwhile, the EU’s MiCA framework, upcoming UK reforms and developments in the Middle East are creating more unified, mature markets for digital assets. Some UK politicians have even echoed US initiatives, proposing Bitcoin reserves and crypto tax reforms.