# One Year After the GENIUS Act, Stablecoins Have Legitimacy but Still Lack Finished Rules

The US stablecoin market stands near $309 billion on the law's first anniversary. Circle's new federal trust-bank charter arrives as lenders warn the sector could pull hundreds of billions of dollars out of bank deposits.

- Published: 2026-07-19T05:27:20.177Z
- Canonical: https://polylog.news/crypto/2026-07-19/one-year-after-the-genius-act-stablecoins-have-legitimacy-bu
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [CryptoSlate](https://cryptoslate.com/one-year-later-genius-act-just-made-stablecoins-easier-to-sell/), [CryptoSlate](https://cryptoslate.com/circle-became-a-federal-trust-bank-now-lenders-warn-stablecoins-is-projected-to-drain-500-billion/)

President Donald Trump signed the GENIUS Act, the federal framework governing dollar-backed stablecoins, on July 18, 2025. A year later, the law's record is mixed. The market it legitimized holds roughly $309 billion, including about $184 b…

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