Perhaps the most significant provision of the GENIUS Act that concerns the US government is the reserve clause, which states that "stablecoins must be backed by liquid assets (cash, deposits, and US government bonds)."

This is even more remarkable for the US government. Stablecoin companies will purchase all US government deposits and bonds, in addition to cash, of course, which means that all investors' money will eventually be converted into (cash, deposits, and US government bonds)!!!