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MasterCard Global Head: The "GENIUS Act" brings a "turning point" for stablecoin adoption, with several giants preparing to lay out their plans.
According to a report by DL News, Jesse McWaters, the global policy head of Mastercard, stated that the GENIUS Act is a "turning point" for mainstream adoption of stablecoins and will drive institutional participation and the development of compliant stablecoins. He said that the act brings about "a new era of regulatory clarity and confidence in digital assets." The act allows regulated entities to issue dollar-backed stablecoins, with giants such as JPMorgan, Citigroup, Bank of America, Amazon, and Apple all pushing related plans. He added, "Mastercard has been preparing for this for a long time."