The GENIUS Act, the first stablecoin legislation in the U.S., has generated interest among crypto investors. However, banking associations are concerned about potential risks to the financial system.

Editor’s Note: This matters because the introduction of stablecoin legislation could significantly impact the cryptocurrency market and financial regulations. The concerns raised by banking associations highlight the need for careful consideration of the law's implications.

Citigroup is entering the regulated stablecoin market by offering institutional-grade custody services. This move aims to capitalize on the growing demand for secure digital assets.

Editor’s Note: This development is significant as it highlights the increasing acceptance of stablecoins in mainstream finance. By providing custody solutions, Citigroup is positioning itself as a key player in the evolving digital asset landscape, which could attract more institutional investors.