GENIUSActPas

#GENIUSActPas
The GENIUS Act has been passed — but experts say stablecoins have the potential to damage the global economy.
Stablecoins are back in the spotlight after the Senate finally passed the GENIUS Act — a key milestone in creating clear rules of the road for crypto firms to follow.
The bill would require issuers to fully back their stablecoins with U.S. dollars, and licensing would depend on the total market capitalization of their digital assets.
There are also safeguards for consumers, who would be paid first in the event of a bankruptcy, with tightened rules to prevent money laundering and terror financing.
Donald Trump wasted little time in showing his enthusiasm for the new legislation, writing on Truth Social: “Get it to my desk, ASAP — NO DELAYS, NO ADD ONS.”

But hurdles remain for the GENIUS Act. It’s still got to be passed by the House of Representatives — and a long summer recess is looming.
Bitpace CEO Anil Oncu told Cryptonews that this bill could drive stablecoin growth and have a significant positive impact on financial inclusion, adding:
“With stablecoin supply now at $239 billion, up from under $10 billion five years ago, regulation is essential. Many US institutions remain cautious due to unclear rules, however, a unified framework removes that barrier and will unlock pent-up institutional demand.”
Stablecoins have become a dominant theme of 2025. Circle, the issuer of USDC, listed on the stock market earlier this month — and has been on a tear ever since.

Whereas the company’s IPO was priced at a mere $31, it’s currently changing hands for just shy of $200 — that’s a 545% increase in a matter of weeks.
U.S. politicians regard stablecoins as a way of cementing dollar dominance in the 21st century, and now, attention is turning to adoption among consumers.
“Coinbase Payments” was unveiled this week, which aims to help businesses “offer crypto-native payments without needing crypto-native teams.”
A collaboration with Shopify means that millions of e-tailers can now accept stablecoins, reducing transaction fees for businesses with razor-thin margins.
And over on the institutional side, JPMorgan has announced that it’s launching a “permissioned token” called JPMD, which has the qualities of a stablecoin.

All of these bullish developments have led some in the space to argue that stablecoins are safer than the deposits held at commercial banks.
That’s a bit of a stretch. For one, consumers have deposit protections in the event that a financial institution goes out of business — meaning they can receive generous levels of compensation for any losses.
There are safeguards in place if they forget their password or PIN, too. Contrast that with a self-custodial wallet, where funds are lost forever if they are transferred to the wrong address, or the private key is lost.
And despite Tether insisting that it is ramping up efforts to be more transparent — and prove that all of the USDT in circulation is fully backed by fiat — this issuer is yet to embark on a full and independent audit.
This has set alarm bells ringing in some circles. Last year, Cyber Capital founder Justin Bons described Tether as a “scam” that has the potential to be “bigger than FTX and Bernie Madoff combined,” meaning it is “one of the biggest existential threats to crypto as a whole.”

tions for the global economy, and stability within the financial ecosystem. The Bank for International Settlements delved into this in a recent report, and argued that flows in and out of stablecoins are already having a significant impact on the cost of short-term borrowing for the U.S. government. The authors wrote:
“Their growth blurs the lines between cryptocurrency and traditional finance and carries implications for monetary policy, transparency of stablecoin reserves and financial stability — particularly during periods of market stress.”
Countries around the world are also watching the explosion of stablecoins very closely. The Atlantic Council recently cited figures that show 98% of stablecoins are pegged to the dollar, with 80% of transactions happening outside of America. This could end up weakening local currencies — with Italian finance minister Giancarlo Giorgetti warning they are an “even more dangerous” threat than Trump’s tariffs.
Nascent technologies often come with growing pains — just look at AI. We’re about to see the same with stablecoins. The GENIUS Act is an encouraging step forward when it comes to regulation, but only scratches the surface of the challenges that lie ahead.

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What an electrifying week for the crypto community! 🚀
✅ The U.S. Senate just passed the GENIUS Act, paving the way for stablecoin regulation with a wave of bipartisan support! Even as Sen. Elizabeth Warren voiced concerns, the momentum is undeniable—this is a game-changer for crypto’s future. 🙌
✅ Ohio’s House made history with the Blockchain Basics Act (HB 116), unlocking tax-free crypto payments under $200 and fiercely protecting mining and staking rights. Now, it’s charging toward the Senate, ready to cement Ohio as a crypto haven! ⚡️
✅ And in a jaw-dropping move, President Trump urged lawmakers to hit the gas on stablecoin legislation—a powerful nod from the top that’s got the crypto world buzzing with excitement! 🇺🇸
#CryptoNewss #Stablecoins #GENIUSActPas

$USDC

Stablecoins are digital money as we use the regular currency, like the US dollar 💵. There weren't clear laws 📝 for them before. So people were hesitated to use them. But now, due to GENIUS Act, things are changing and getting better.
How the GENIUS Act is Useful for? 🤔
This new law is all about making stablecoins safe 💼 and secure. Here's how:
✅ Full Reserve Backing:
If a stablecoin worth is one dollar, the company issuing it must have a real dollar (or something else of same worth) for every stablecoin that is in circulation 🔄. This means your stablecoin is always backed by real assets💸, making it much more reliable.
✅ Regular Audits:
Stablecoin companies will be audited by independent experts 🕵️who will check them and make it sure that they're following all the rules📒 and having enough reserves 💰 behind. This develops trust and transparency.
✅ Proper Licensing:
Stablecoin Companies need to get a special license📄, as you need a driving license before, you can drive a car 🚙. So, all the work would be legal and only reputable and responsible companies will operate in the market.
Why is This Such Good News? ✨
This act is considered a big step for stablecoins and the entire crypto world because it:
➡️ Legalizes Stablecoins:
It officially makes stablecoins a recognized and legal currency.
➡️ Boosts Confidence:
People will feel comfortable 😌 in using stablecoins for everyday transactions, saving, and investing due to clear rules and safety measures. This could lead to wider adoption! 📈
➡️ Encourages Innovation:
More businesses and developers 🧐 can confidently build new and exciting things 🤖 using stablecoins. Possibilities would increase ⬆️.
What Are People's opinion? 🗣️
Even big names in the crypto world are saying, it's a good step. The CEO of Coinbase, which is a major crypto exchange, says that "Stablecoins are a viral flywheel 🎡 for crypto users to get started." This means stablecoins are more easy way for new people to get into crypto and explore all its benefits. 🔄
Brighter Future for Crypto! ☀️
The GENIUS Act is a fantastic development. It brings clarity that was needed and security 💼 to the stablecoin market. It's a clear signal 🚦that the U.S. is serious in developing digital assets and paving the way 🛣️ for a more innovative and secure financial future.
#StablecoinNews #GENIUSActPas #Write2Earrn #USDT🔥🔥🔥 #USDC✅