According to @MilkRoadDaily, Wall Street broker Bernstein anticipates the U.S. Senate's GENIUS Act for stablecoin regulation will pass into law within the next few months. The firm's research report states this legislation will transform stablecoins from a crypto-specific tool into the 'money rail of the internet,' driving wider mainstream adoption for digital payments. The act mandates federal regulation for stablecoins with a market cap exceeding $10 billion, giving a significant advantage to U.S. regulated issuers. Bernstein also notes the bill would likely prevent non-financial public companies like Amazon or Walmart from issuing their own stablecoins, compelling them to partner with regulated financial entities for any stablecoin integration.

According to Crypto Rover, Bernstein reports that the U.S. Crypto Task Force will focus on initiating a National Bitcoin Reserve, with a projected budget of $725 billion. This development could significantly impact Bitcoin's market dynamics, potentially increasing demand and influencing trading strategies.