Ripple Labs CEO Brad Garlinghouse has predicted big things in U.S. stablecoin regulation. He thinks Circle’s successful IPO will help push this progress along. Garlinghouse is the first to admit he’d been overly optimistic. As bipartisan efforts are moving the GENIUS Act—a stablecoin regulatory bill—closer to enactment, a bipartisan stablecoin bill could become law by August.

The GENIUS Act that was most recently introduced with bipartisan support is likely to travel through the Senate and then over to the House for consideration. Other jurisdictions globally are advancing stablecoin regulation, including new legislation in Hong Kong and ongoing efforts by Korea's new administration.

"Circle IPO's clearly went very well. That's a reflection of investor interest in crypto, both institutions and retail. The financial future will be blockchain-based" - Brad Garlinghouse

For his part, Garlinghouse underscored the need for clear regulatory frameworks—not full-scale deregulation.

"Regulatory headwinds have now become tailwinds in the U.S., and that's good for the global landscape. It's not deregulation that we want, and we are asking for clear regulation, and progress is evident" - Brad Garlinghouse

CoinDesk's team, including senior reporter Sam Reynolds, received the 2023 Gerald Loeb Award for breaking news for their coverage of FTX's collapse.

Omkar Godbole, Co-Managing Editor on CoinDesk's Markets team and a Chartered Market Technician (CMT) member with a master's degree in Finance, is closely monitoring these regulatory developments.

The Apex 2025 conference is currently underway in Singapore, continuing through this Thursday. Industry leaders and innovators are making noise at the show and shaking things up.