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It was a recognition that digital money, like data, does not stop at borders. And it was a timely reminder that stablecoins — the fastest-growing part of digital finance and crypto — will only fully succeed if regulators match their borderless design with cross-border collaboration.Stablecoins are internet-native money: always on, borderless, programmable and available to anyone with a smartphone. Unlike traditional payment rails, they don’t close on weekends, don’t rely on complex correspondent banking networks and can move value between Bangkok and Boston in seconds. In many ways, they are the first serious upgrade to cross-border payments since SWIFT in the 1970s. Where SWIFT was a messaging network innovation to connect counterparty banks, stablecoins marry messaging with settlement to create a payments innovation breakthrough.But their value proposition depends on being global. A patchwork of divergent national rulebooks would turn the “internet of value” into fragmented payment intranets — undermining the very efficiency and accessibility that make stablecoins transformative.The good news: the world’s leading regulatory frameworks for stablecoins — Europe’s Markets in Crypto-Assets Regulation (MiCA) and America’s GENIUS Act — already share the same foundation. Both require full 1:1 reserves in high-quality liquid assets, redemption at par, regular public reporting and strict governance, risk and anti-money laundering (AML) standards. Both allow issuance by banks and non-banks alike.There are, of course, differences. GENIUS imposes tighter reserve rules (limited to short-dated Treasuries and reverse repos), while MiCA allows a broader mix, including longer-duration government bonds or even covered bonds, but also requires high minimum bank deposit ratios (30% or 60% of the reserve depending on token size). GENIUS requires monthly attestations, while MiCA mandates a white paper at launch. MiCA places issuance caps on non-euro stablecoins at scale; GENIUS creates strict barriers for Big Tech issuers and segregation requirements for banks aiming to launch stablecoins. These are examples of important differences, but they pale in comparison to the core alignment on what a safe, credible stablecoin looks like.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,688.46 +27.25 (+0.41%)Dow 3046,397.89 +81.82 (+0.18%)Nasdaq22,660.01 +68.86 (+0.30%)Russell 20002,436.48 +1.24 (+0.05%)VIX16.28 +0.16 (+0.99%)Gold3,888.70 +15.50 (+0.40%)PortfolioSign in to access your portfolioSign inTop gainersWOLF Wolfspeed, Inc. 28.60 +6.50 (+29.41%)UNFI United Natural Foods, Inc. 37.62 +5.86 (+18.45%)SMTC Semtech Corporation 71.45 +9.47 (+15.28%)BE Bloom Energy Corporation 84.57 +10.97 (+14.90%)CRWV CoreWeave, Inc. 136.85 +14.33 (+11.70%)Top losersMENS Jyong Biotech Ltd. 39.38 -10.62 (-21.24%)FLY Firefly Aerospace Inc. 29.32 -7.64 (-20.67%)DOCU DocuSign, Inc. 72.09 -10.05 (-12.24%)KVYO Klaviyo, Inc. 27.69 -3.80 (-12.07%)BRZE Braze, Inc. 28.44 -3.78 (-11.73%)Most activeSNAP Snap Inc. 7.71 -0.69 (-8.21%)NVDA NVIDIA Corporation 186.58 +4.70 (+2.59%)OPEN Opendoor Technologies Inc. 7.97 -0.23 (-2.80%)PFE Pfizer Inc. 25.48 +1.63 (+6.83%)INTC Intel Corporation 33.55 -0.92 (-2.67%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersNKE NIKE, Inc. 69.73 +0.18 (+0.26%)PFE Pfizer Inc. 25.48 +1.63 (+6.83%)LAC Lithium Americas Corp. 5.71 -0.03 (-0.52%)CRWV CoreWeave, Inc. 136.85 +14.33 (+11.70%)LLY Eli Lilly and Company 763.00 +36.49 (+5.02%)Top economic eventsPowered by Money.com - Yahoo may earn commission from the links above.