Quote from: yhiaali3 on Today at 05:16:54 AM

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)!!! Cool

For me, this is positive mainly because it prevents companies that issue stablecoins from printing money out of thin air. I also suppose it is a move to ensure the purchase of T bills and other bonds without having to depend on the will of foreign governments that are potential enemies, such as China. In this case, if there is growing adoption of dollar stablecoins mainly by retailers around the world, this will lead to greater demand for US Treasury bonds.

Quote from: zasad@ on August 04, 2025, 10:33:29 AM

I also wonder when these stablecoins will be banned en masse in other countries, since they finance the US economy.

I don't think they will be banned on a large scale, but even in countries where this happens, it will be like trying to close the barn door after the horse has bolted.