It’s just a stablecoin. That law was made to protect users by requiring that USDT has enough reserves backed by actual dollars.
They say the GENIUS act was created with the main goal of protecting users, but in reality they are trying to strengthen the position of the USD and manage the money flow more tightly. This GENIUS not only requires stablecoin issuers to be pegged to the USD, but also requires organizations to comply with the statutory withdrawal, freezing, and burning of stablecoins.
Bitcoin is different. Just by that distinction alone, USDT is centralized while Bitcoin is decentralized, that law can’t be used as a basis to say Bitcoin will become a payment method like USDT in the future. It simply doesn’t work that way.
OP is a bit naive to think when they pass a bill regarding crypto that bitcoin and other cryptocurrencies will benefit and be treated the same. But unfortunately, they have their own goals. They only do what benefits them, so don't expect them to do the same with bitcoin, a currency that is beyond their control.