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The 'Genius' Act Set to Vote: How Will Stablecoins Change the Crypto Landscape?
On Thursday this week, March 13, 2025, the U.S. Senate Banking Committee will vote on the GENIUS Act—a bipartisan bill aimed at establishing a clear legal framework for stablecoins, focusing on reserve requirements, auditing, and licensing. Led by Senators Bill Hagerty (R-TN) and Tim Scott (R-SC), this bill not only protects users but also promotes President Donald Trump's crypto policy, aiming to make the U.S. the 'crypto capital of the world.' But how will it affect the cryptocurrency market?
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China's Quiet Sale of Bitcoin: A Surprising Move Amid Crypto Ban and Budget Crisis
While the global cryptocurrency market continues to grow and some countries like the US are starting to integrate crypto into their economic strategies, China is following a contradictory path: banning domestic crypto transactions while quietly selling Bitcoin to patch the public budget.
Selling Bitcoin quietly: A stopgap solution amid the economic crisis
Since 2019, China has officially banned all domestic crypto trading activities. However, according to #Reuters , local governments are currently authorizing private companies to sell seized Bitcoin in the international market. This action is primarily aimed at addressing the public budget deficit caused by the slowing economic growth.
Selling Bitcoin quietly: A stopgap solution amid the economic crisis
Since 2019, China has officially banned all domestic crypto trading activities. However, according to #Reuters , local governments are currently authorizing private companies to sell seized Bitcoin in the international market. This action is primarily aimed at addressing the public budget deficit caused by the slowing economic growth.
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⚡Tether 🆚 JPMorgan: A debate⚡
🔹#Tether has rejected a February 12 report led by JPMorgan strategist Nikolaos Panigirtzoglou, who suggested that proposed laws in the United States could require the company to adjust its reserves, potentially selling some of its holdings of #Bitcoin
✍🏻 Two legislative proposals are currently being debated:
⚖️ Bill #GENIUS (February 4): presented by Senator Bill Hagerty and by the Chairman of the Senate Banking Committee, Tim Scott, Senators Kirsten Gillibrand and Cynthia Lummis. It seeks to create a federal framework for stablecoin issuers.
⚖️ House Bill #STABLE (February 6) – Introduced by House Financial Services Committee Chairman French Hill and Rep. Bryan Steil, it serves as a counterpart to the GENIUS Act.
📝 JPMorgan's report claimed that Tether's reserves are 66% compliant with the STABLE Act and 83% compliant with the GENIUS Act, meaning adjustments would be necessary under the proposed rules.
🏦 To which Tether CEO Paolo Ardoino argued that at worst, the group's assets exceed $20 billion in highly liquid assets and generate over $1.2 billion in quarterly Treasury bond earnings.
🔨 He concluded by stating that the company has one of the best risk management strategies in the industry and reiterated that JPMorgan's stance may be due to "missing the Bitcoin train."
🎯 The conflict of interest over the financial hegemony of the new system is inevitable, but can you see anything else behind the news?
🔹#Tether has rejected a February 12 report led by JPMorgan strategist Nikolaos Panigirtzoglou, who suggested that proposed laws in the United States could require the company to adjust its reserves, potentially selling some of its holdings of #Bitcoin
✍🏻 Two legislative proposals are currently being debated:
⚖️ Bill #GENIUS (February 4): presented by Senator Bill Hagerty and by the Chairman of the Senate Banking Committee, Tim Scott, Senators Kirsten Gillibrand and Cynthia Lummis. It seeks to create a federal framework for stablecoin issuers.
⚖️ House Bill #STABLE (February 6) – Introduced by House Financial Services Committee Chairman French Hill and Rep. Bryan Steil, it serves as a counterpart to the GENIUS Act.
📝 JPMorgan's report claimed that Tether's reserves are 66% compliant with the STABLE Act and 83% compliant with the GENIUS Act, meaning adjustments would be necessary under the proposed rules.
🏦 To which Tether CEO Paolo Ardoino argued that at worst, the group's assets exceed $20 billion in highly liquid assets and generate over $1.2 billion in quarterly Treasury bond earnings.
🔨 He concluded by stating that the company has one of the best risk management strategies in the industry and reiterated that JPMorgan's stance may be due to "missing the Bitcoin train."
🎯 The conflict of interest over the financial hegemony of the new system is inevitable, but can you see anything else behind the news?
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US is About to Pass Crypto Law: A Bright Future for Cryptocurrency
On April 13, 2025, US Senator Tim Scott revealed that important laws regarding cryptocurrencies, including regulations on stablecoins, are expected to be passed in August 2025. With bipartisan support for the #GENIUS bill, the US aims to lead in the digital asset sector, opening up positive prospects for the global crypto market.
Crypto Law: A Stepping Stone for Innovation
Senator Tim Scott emphasized the importance of prioritizing innovation to maintain competitive advantage for the US, especially as countries like Sweden and New York are also integrating crypto into their financial systems. The GENIUS bill, focusing on stablecoin regulations and reinforcing the USD's position, has received consensus from both parties, promising to create a clear legal framework that encourages participation from institutional and individual investors.
Crypto Law: A Stepping Stone for Innovation
Senator Tim Scott emphasized the importance of prioritizing innovation to maintain competitive advantage for the US, especially as countries like Sweden and New York are also integrating crypto into their financial systems. The GENIUS bill, focusing on stablecoin regulations and reinforcing the USD's position, has received consensus from both parties, promising to create a clear legal framework that encourages participation from institutional and individual investors.
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Trump Supports Stablecoins, Europe Accelerates Plans for Digital Euro Issuance?
The strong support of former US President Donald Trump for stablecoins could encourage the European Union (EU) to accelerate the issuance of the digital euro (CBDC), according to a member of the European Central Bank (ECB).
Europe Concerned About the Development of US Stablecoin
In an interview with Reuters, Piero Cipollone, a member of the #ECB , said he 'hopes' that the European Parliament and Council can finalize the legal framework for the digital euro before the summer of 2025. If on schedule, the process could be completed by November of the same year.
Europe Concerned About the Development of US Stablecoin
In an interview with Reuters, Piero Cipollone, a member of the #ECB , said he 'hopes' that the European Parliament and Council can finalize the legal framework for the digital euro before the summer of 2025. If on schedule, the process could be completed by November of the same year.
🔥 JUST IN : Senator Hagerty 🇺🇸 introduces his “Stablecoin Bill” called #GENIUS (Guiding and Establishing National Innovation in U.S. Stablecoins) Act, aiming to provide clear regulations for #stablecoins
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Senator Bill Hagerty Introduces the GENIUS Bill 🌐
A new bill regulating stablecoins is gaining momentum in the U.S. — #GENIUS . Its goal is to create clear rules for the market and ensure transparency.
🔹 The document defines what payment stablecoins are.
🔹 Issuers with a market capitalization of over $10 billion will fall under the supervision of the Federal Reserve.
🔹 Companies will be required to publish monthly audit reports on their reserves.
Co-authors of the bill include Senators Kirsten Gillibrand, Tim Scott, and Cynthia Lummis. The document is expected to pass through committee discussions quickly 💼.
Stay tuned for updates!
$USDC $FDUSD
A new bill regulating stablecoins is gaining momentum in the U.S. — #GENIUS . Its goal is to create clear rules for the market and ensure transparency.
🔹 The document defines what payment stablecoins are.
🔹 Issuers with a market capitalization of over $10 billion will fall under the supervision of the Federal Reserve.
🔹 Companies will be required to publish monthly audit reports on their reserves.
Co-authors of the bill include Senators Kirsten Gillibrand, Tim Scott, and Cynthia Lummis. The document is expected to pass through committee discussions quickly 💼.
Stay tuned for updates!
$USDC $FDUSD
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Shocking forecast from Standard Chartered: Stablecoins will increase tenfold, helping the U.S. fund spending without
A recent report from global investment bank Standard Chartered is attracting significant attention in the finance and crypto world, forecasting that the supply of stablecoins could skyrocket from $230 billion to $2 trillion by 2028 – nearly ten times the current level. Notably, this scenario could become a reality if the United States passes the GENIUS Act this mid-year.
Shocking forecast: Stablecoins could hit $2 trillion
Shocking forecast: Stablecoins could hit $2 trillion
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