Stablecoins currently represent approximately 1.1% of the total U.S. dollar supply, equating to over $246 billion in digital dollars. This growing segment of the money supply is becoming one of the fastest-growing forms of money globally, with stablecoins accounting for about 1 in every 99 U.S. dollars in circulation. On the Ethereum blockchain alone, stablecoins constitute 0.55% of the U.S. dollar supply, benefiting from Ethereum's 65% market share in this sector. The recently proposed GENIUS Act aims to regulate stablecoins more clearly and strictly, which supporters argue will revitalize U.S. payment systems and reinforce U.S. dollar dominance. The legislation is expected to drive a surge in stablecoin issuance and demand, potentially making stablecoin holders among the largest short-term U.S. Treasury owners worldwide. However, critics highlight that the GENIUS Act restricts stablecoin customers from sharing in the profits generated by issuers like Tether and Circle, effectively turning these companies into money-printing entities without depositor benefits. Market analysts predict that the GENIUS Act could trigger a substantial expansion in stablecoin market capitalization, with estimates ranging from $2 trillion to $4 trillion, and could catalyze a significant rise in Bitcoin prices, potentially reaching between $175,000 and $600,000. The act also prohibits interest-bearing stablecoins, which may drive decentralized stablecoins to become more independent from regulatory frameworks.