Jeremy Allaire argues that the broad bipartisan support behind the GENIUS Act should prevent Democrats from repealing it even if they take control of the House. Signed into law in July 2025, it passed the Senate 68-30 and the House 308-122, with 102 House Democrats voting in favor. On October 21, 2026, the OCC released final rules requiring payment stablecoin issuers to maintain full 1:1 reserves while meeting standards for rapid redemptions, custody and capital. These rules and the GENIUS Act will both fully take effect on January 18, 2027. Circle’s USDC had a circulation of $73.3 billion in the second quarter of 2026, up 19% year over year, which Allaire says provides the stablecoin with long-term policy certainty.
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