Neha Gupta
2 min read
Bank of America Corporation (NYSE:BAC) is one of the 11 best performing Warren Buffett stocks in 2025. On June 17, the US Senate passed a crucial bill that sets the stage for corporate adoption of stablecoins. Dubbed the “Guiding and Establishing National Innovation for U.S. Stablecoins Act” (GENIUS Act), the bill’s primary focus is to create a regulatory framework for stablecoins. Stablecoins are cryptocurrencies designed to maintain a stable value, typically pegged to the US dollar.
According to a Reuters report, the bill’s passing is a major endorsement for major US banks, including Bank of America, to expand into cryptocurrencies. One of the ways the institutions could participate in the crypto market, the report says, is to become “middlemen for crypto-related transactions.”
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Powered by Money.com - Yahoo may earn commission from the links above.The GENIUS Act seeks to create a dual-track regulatory system with three categories of permitted stablecoin issuers. The first category includes subsidiaries of insured depository institutions (IDIs), and the second category comprises federal qualified payment stablecoin issuers regulated by the Office of the Comptroller of the Currency (OCC). Lastly, there will be a category of state-qualified payment stablecoin issuers supervised by certified state regulators.
Bank of America Corporation (NYSE:BAC) is a multinational financial services company. It provides various banking, investment, asset management, and risk management products and services. Its operations span consumer banking, global wealth and investment management, global banking, and global markets.
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