KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
In a big move for crypto regulation, President Donald Trump has officially signed the GENIUS Act — short for Guiding and Establishing National Innovation for U.S. Stablecoins. The new law puts the spotlight on stablecoins like USDC and USDT, which are pegged to real-world assets like the U.S. dollar.
What’s in the GENIUS Act?
Regulates issuance and use of stablecoins
Aims to ensure transparency, reserve backing, and user protection
Creates a formal compliance framework for stablecoin providers
Encourages stablecoin demand for U.S. Treasurys to help manage national debt
Key Reactions
President Trump:
“This signing is a massive validation of your hard work… This will secure the dollar’s status as the world’s reserve currency.”
Jennifer Schulp, Cato Institute:
Pros: Brings regulatory clarity and stability
Cons: Potential competition limits and surveillance risk
Rajeev Bamra, Moody’s Ratings:
Success depends on how issuers handle transparency, governance, and consumer alignment
Why It Matters to Investors
U.S. officially steps into crypto regulation with concrete policy
Stablecoins could become buyers of short-term Treasurys, aiding liquidity and lowering interest rates
Improves legitimacy and adoption of digital assets — potentially bullish for compliant stablecoin projects
Market Reaction
Asset | 1-Day Move | 7-Day Performance |
Bitcoin (BTC) | ▼ 1% | Hovering near ATH ($117K–$123K) |
Ethereum (ETH) | ▲ 19.1% | Strong institutional interest |
Solana (SOL) | ▲ 8% | Continues uptrend |
Ripple (XRP) | ▲ 21.7% | Big rebound on regulatory clarity |
The crypto market cap just passed $4 trillion, led by Bitcoin but boosted by altcoin momentum.
Analyst Takeaway
The GENIUS Act is a major regulatory turning point for U.S. crypto markets. While it mainly impacts stablecoins, the ripple effect (no pun intended) is broader:
It signals Washington’s intent to lead in digital finance
Provides a clearer path for institutional adoption
Could shift capital into regulated crypto instruments (like tokenized T-bills)
For investors, this is a positive long-term development — but near-term volatility remains as the market digests the details.
Investor Rating: 🟢 Bullish for stablecoins and U.S.-based crypto adoption
Watchlist: USDC, USDT, COIN, HOOD, ETH, SOL, XRP, and DeFi protocols that integrate regulated stablecoins
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