What To Expect from the US House’s ‘Crypto Week’

Cryptocurrencies—and, particularly, stablecoins—are expected to take center stage in Washington, D.C., next week during the House of Representatives’ self-proclaimed “Crypto Week.”U.S. representatives are expected to vote on the GENIUS Act, a bill that would enable private companies to issue stablecoins, a type of cryptocy that has its value tied directly to a state-issued cy, often the U.S. dollar. The bill would require companies issuing stablecoins to back them one-to-one with liquid cash.

Corporate interest in stablecoins appears to be on the rise. Walmart (WMT) and Amazon (AMZN) are reportedly considering launching their own stablecoins, which shoppers could use as a payment option. This, experts say, could significantly change the payments landscape, since their widespread use might would allow the retail titans to reduce the billions of dollars in credit transaction fees they pay to Visa (V) and Mastercard (MA).