Aptos Executive: ”The passage of the GENIUS bill will lead to full-scale expansion of the RWA tokenization field”

New legislative initiatives in the United States, specifically the passage of the GENIUS Act, promise to spur explosive growth in the real asset (RWA) tokenization sector.
Solomon Tesfaye has been appointed Chief Business Officer of Aptos Labs.
Tesfaye said, "The GENIUS bill will be a decisive opportunity to accelerate the entry of institutional investors."
In an interview with Cointelegraph shortly before the GENIUS bill was passed, Tespaie said, “The relationship between policymakers and Web3 leaders is very strong.
"Public dialogue is becoming more active, and these discussions are leading to concrete legislation," he said. "In particular, the GENIUS Act is a bill that allows the U.S. Congress to take responsible action to promote blockchain innovation."
"This is one of the strongest signals we have received that we are ready to support cryptocurrency," he said. The GENIUS bill was passed last week by the Republican-led House of Representatives, which called for a "Crypto Week."
It was passed in the 2017 Diet session and later signed by President Donald Trump into official law.
The bill provides a regulatory framework for the $260 billion stablecoin market and improves the institutional rights of the cryptocurrency industry.
Stablecoins are generally excluded from RWA market statistics, but in many cases they are secured by real assets such as U.S. Treasury bonds, so they are not included in the RWA category.
Tespaie said, "Stablecoins provide predictability, low transaction costs, and high liquidity, and are a key on-ramp for the tokenization market that connects traditional finance with DeFi.
"A clear regulatory environment in the U.S. will be a major driving force behind the evolution of tokenized assets," he said. "The passage of the GENIUS bill will be a major driver of that."
"This is the first signal of its kind," he added.