US passes first major crypto legislation – Genius Act – as global ‘arms race’ heats up: deVere
The US has passed its first major national cryptocurrency legislation — the Genius Act — signaling the most aggressive shift yet in Washington’s approach to digital assets.
Backed by President Trump, the bill marks a landmark moment for the crypto sector and ignites what global financial advisory giant deVere Group calls a full-scale global digital arms race.
In response to the development, deVere today confirms it is doubling down on its $150,000 Bitcoin price prediction by the end of 2025, citing the legislation as a turning point in monetary and technological policy that will trigger rapid acceleration in adoption, capital flows, and international competition.
“This changes everything,” said Nigel Green, CEO of deVere Group.
“For the first time, the US government is not just ‘tolerating’ crypto—it’s codifying it. The world’s largest economy is laying down the legal foundations for digital assets to thrive.
“This sends a very clear message to markets and to other governments: adapt or fall behind.”
The Genius Act requires that stablecoins—cryptocurrencies designed to maintain a fixed value against the US dollar or other fiat currencies—must be fully backed by reserves, such as dollars or equivalent low-risk assets.
The legislation is designed to provide certainty for issuers and users of digital currency, enabling the sector to move further into mainstream commerce and financial infrastructure.
The implications extend far beyond stablecoins.
“While the bill focuses on regulatory clarity for stablecoins, the broader message is that digital assets are now central to the future of money. As confidence and capital flood into the ecosystem, Bitcoin stands to gain the most. It is the global reserve asset of this new paradigm,” noted Nigel Green.
The move represents a stark evolution in Donald Trump’s stance. Once openly hostile to Bitcoin, he has shifted toward support as political momentum and industry influence have grown.
“This is more than political opportunism. It’s strategic positioning. Digital assets are now core to economic power, and this legislation is America planting its flag,” Green added.
Global crypto adoption is already surging.
Over 500 million people worldwide are using cryptocurrencies in 2025, and that number is expected to cross 600 million by year-end. Inflows into US Bitcoin ETFs alone have surpassed $17 billion this quarter, and institutional investors are increasingly seeking exposure in portfolios.
“Institutions have been waiting for clarity,” said Green. “This is the moment. The regulatory fog is lifting, and the path to large-scale capital participation is opening. We are now entering the next phase of adoption.”
The Genius Act also puts pressure on other global financial centers to act. As the US moves to anchor digital assets within its legal and financial systems, Europe, Asia and other regions will be forced to either accelerate their own frameworks—or risk being sidelined.
“This will trigger a chain reaction,” Green explained. “No government wants to cede financial innovation or influence to another.
“This is a monetary race now. Central banks, regulators, and institutional investors are watching this bill—and they will respond.”
deVere says its reaffirmed $150,000 forecast is rooted not only in regulatory momentum but also in market mechanics: finite supply, rising institutional demand, and accelerating integration of crypto into banking, payments, and national policy.
“There are only ever going to be 21 million Bitcoin,” said Green. “At a time when demand is exploding and credibility is cementing, the supply-demand equation becomes brutally simple. That’s why $150,000 isn’t just possible—it’s increasingly probable.”
Green concluded, “This US legislation just turned up the heat globally—and for investors, the countdown is now well underway.”
