GENIUS法案

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#cryptocurreny #RIDDLE #TrendFollowing #mind_stuck #GENIUS法案

U.S. Stablecoin Regulatory Dual-Track System: Analyzing the Path Differences of the STABLE Act and the GENIUS Act

Recently, two major bills in the U.S. Congress regarding stablecoin regulation have drawn market attention. The STABLE Act proposed by the House of Representatives and the GENIUS Act promoted by the Senate exhibit distinctly different regulatory approaches.

In simple terms, the STABLE Act adopts a more conservative regulatory stance, requiring stablecoin issuers to maintain a 1:1 reserve of cash, U.S. Treasury securities, or highly liquid assets. While there is no issuance cap, it strictly limits the scope of operations, allowing only basic services such as issuance, redemption, and custody, and stipulates that false reporting will face severe penalties.

In contrast, the GENIUS Act places greater emphasis on market efficiency, allowing reserve assets to include reverse repurchase agreements and money market fund investments, and adopting a layered regulatory model. It implements federal regulation for issuers with assets exceeding $10 billion, while granting stablecoin holders priority in bankruptcy repayment.

Currently, the progress of the two bills is uneven. The GENIUS Act has already been passed by the Senate Banking Committee, and the White House has expressed support. Meanwhile, the revised STABLE Act has just been submitted for consideration in the House of Representatives. Market analysis indicates that if the GENIUS Act is ultimately passed, it could attract more institutional investors; whereas the strict regulations of the STABLE Act may stifle industry innovation.

It is worth noting that the compliance rate of reserves among existing major stablecoin issuers is only 66%-83%. Whichever bill is passed will force them to adjust their operating models. This regulatory game not only concerns the development of the U.S. stablecoin market but will also have far-reaching impacts on global cryptocurrency policy.

Do you support the strict risk control of the STABLE Act? Or do you favor the flexible regulation of the GENIUS Act? Leave your thoughts in the comments!

#稳定币监管 #STABLE法案 #GENIUS法案

💼The U.S. Treasury Department appoints a new crypto advisor: Promote stablecoin legislation and accelerate cryptocurrency regulation!

The U.S. Treasury Department has recently appointed Tyler Williams as a cryptocurrency advisor. His primary mission is to assist Congress in formulating stablecoin legislation. This move heralds a critical development in the field of digital currency regulation in the United States.

At a recent private digital asset event in Washington, D.C., Williams said that clear legal guidelines and a unified regulatory framework are critical to the stablecoin industry, which will not only enhance industry confidence, but also ensure that state and federal regulators operate under a consistent framework.  

Williams emphasized that establishing clear legal guidelines for stablecoins will not only enhance industry confidence, but also ensure consistent regulatory approaches across jurisdictions. At the same time, as a former regulatory attorney for Galaxy Digital, Williams is optimistic about the future of the industry. He believes that this appointment by the Treasury Department has demonstrated that the United States is willing to introduce cryptocurrencies into the mainstream financial system in a responsible manner.  

At the same event, Republican Congressman Bryan Steil of Wisconsin was also optimistic about the prospects for stablecoin legislation. He emphasized that this issue has won broad bipartisan support. Although the FIT21 bill has been successfully passed by the House of Representatives, Steil believes that in order to maintain legislative momentum and promote progress in the field of digital assets, the United States must "surpass other countries" and show stronger leadership and foresight.

Senator Bill Hagerty also proposed the "2025 United States Stablecoin National Innovation Guidance and Establishment Act" (GENIUS Act), which aims to bring crypto tokens pegged to the US dollar under the supervision of the Federal Reserve to define the responsibilities between the federal and state governments in regulating stablecoin issuers.

In general, the pace of cryptocurrency regulation in the United States is accelerating, which will not only help enhance market confidence, but also provide clearer guidance for industry development. I hope these efforts will make the cryptocurrency market healthier and more transparent!

💬 How much impact do you think the United States' accelerated stablecoin legislation will have on the cryptocurrency market? Will this bring major benefits to the cryptocurrency industry? Leave a message in the comment area to discuss!

#稳定币 #加密货币 #美国财政部 #FIT21 #GENIUS法案