US cryptocurrency legislation drives a $4 billion surge in stablecoin supply, pushing the market value of stablecoins above $264 billion

As Cointelegraph revealed, the ink on the GENIUS Act is barely dry, and its ripple effects are already evident throughout the crypto industry.

In just seven days, the industry added nearly $4 billion in funding, pushing the stablecoin market value to over $264 billion and spurring corporate interest in related investments.

The surge is not surprising. The landmark legislation provides a federal framework for banks, asset managers, and other institutional investors to issue stablecoins backed by fiat currencies without the imminent threat of enforcement action by the U.S. Securities and Exchange Commission (SEC).

With regulatory clarity comes new capital, new players, and more intense competition. Signs of this shift were already emerging even before the GENIUS Act was enacted.