# Genius Act Anniversary: Rules Are Missing, But Winners Are Clear US stablecoin regulations delayed, big players gain advantage. - **Source:** [DailyCoin](https://brifing.si/source/3e9b0f85-cb2f-40ee-ba61-db9410cf0937) - **Published:** 2026-07-14 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/92523f3c-09a8-4a9c-bc4c-9eb502700188 ## Genius Act and Delayed Rules The Genius Act, enacted on July 18, 2025, aimed to cement US dominance in global finance and crypto technology. However, a year later, final rules remain undetermined. Regulators have missed their own deadlines while fast-tracking federal charters for select crypto banks, creating an uneven playing field. ## Winners in the Regulatory Gap The OCC, Federal Reserve, and other agencies have delayed establishing a stablecoin regime. Meanwhile, firms like Ripple, Circle, and Coinbase secured federal charters, gaining a significant market advantage. Analysts argue this delay acts as a moat for chartered entities and a barrier for others. ## Stablecoin Market Dominance In June 2026, stablecoin transaction volume hit a monthly record of $1.79 trillion. Circle's USDC leads with 70% market share, while Bitcoin remains sidelined as a 'wrapped asset' rather than a payment tool. Tokenized dollar systems are becoming the focus, marginalizing BTC's role in payments. ## Ripple's Strategic Moves Ripple manages RLUSD reserves under both state and federal oversight. With XRP classified as a digital commodity and a pending Fed master account application, Ripple's 'license plus pipeline' strategy gives it a unique edge. This infrastructure advantage positions Ripple ahead of competitors in the evolving regulatory landscape. ## Status of the Clarity Act The broader Clarity Act, a market-structure bill, faces Senate gridlock despite bipartisan support. Disputes over presidential crypto disclosures and stablecoin yield bans have stalled progress. Analysts estimate just a 35% chance of passage before midterms, leaving the crypto industry in continued uncertainty. ## Key Takeaways for Investors The US stablecoin market has reached $303 billion, operating largely on an 'honor system' without full federal oversight. Early charter recipients like Circle and Ripple are consolidating market share ahead of 2027 implementation. Investors should watch charter approvals, Fed account decisions, and state certifications as key market signals. ## Sources covering this story - https://dailycoin.com/genius-act-anniversary-rules-are-missing-but-winners-are-clear/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._