Quote from: CCECash on July 24, 2025, 09:45:29 AM

The GENIUS Act: What it means for your crypto
The United States just unveiled its largest cryptocurrency policy initiative to date. Focusing on payment stablecoins like USDC, the GENIUS Act has passed the Senate and House of Representatives and was signed by the President on July 19.

What is the Act?

The GENIUS Act clarifies which institutions can issue stablecoins, how stablecoins must be backed (e.g., cash, U.S. Treasuries), and how consumer funds are protected. For the first time, the bill puts stablecoins under direct federal regulation.

Why it matters

1. Increase trust in U.S.-issued stablecoins
2. Better protect users
3. Clearer compliance for issuers and exchanges
4. Enhance the global status of the U.S. dollar in the digital asset space

Foreign issuers must also meet U.S. standards if they want to operate in the U.S., thereby creating a level playing field.

I've written many times about the GENIUS Act, now all steiblcoins will be required by this law to keep 70-80% of their reserves in American Treasures.
The funny thing is that all steiblcoin users will be funding the US government for free.
Once this reaches the minds of other government leaders, then they should ban all these steiblcoins.