Foreign media articles state that USDC's compliance structure has quickly gained attention from the institutional market following the passage of the GENIUS Act. The article argues that Circle had already established a reserve, custody, and disclosure system closely aligned with the new regulations, giving USDC a head start under the new US stablecoin framework.

Core requirements of the GENIUS Act

This bill establishes the first federal framework for stablecoins in the United States, requiring issuers to back their tokens 1:1 with high-quality liquid assets and to disclose their reserves monthly. The article states that large issuers will also be subject to more direct federal regulation, and stablecoin holders will have priority in receiving payments in the event of an issuer's bankruptcy.

USDC takes the lead in aligning with the new regulations

The article states that Circle had already placed most of USDC's reserves in short-term US Treasury bonds and cash equivalents before the bill took effect, with BNY Mellon and BlackRock involved in custody and management. It argues that this structure is highly consistent with the bill's requirements, allowing USDC to enter the new regulatory environment without significant restructuring.

The uses of institutions have been further expanded.

The article also mentions that the SEC's adjustments to broker capital treatment, Circle's partnership with FIS, and Circle's listing on the NYSE have all enhanced USDC's institutional attributes. The author believes that USDC is shifting from a crypto-native stablecoin to a payment and settlement asset that resembles a traditional financial instrument.