#USStablecoinBill US Stablecoin Bill (GENIUS Act) – Lightweight Summary
Imagine you have a "digital dollar" that has a stable value and can be used anywhere—that's stablecoin. Now, the US wants to create the rules through the US Stablecoin Bill.
What is the Purpose?
To make stablecoins safer, regulated, and not cause financial chaos.
Main Contents:
100% Reserve: Every stablecoin must be fully backed by dollars or liquid assets.
Choice of Regulator: Small issuers can be regulated by state authorities (as long as it is equivalent to federal regulations).
Mandatory Legal Compliance: Must adhere to anti-money laundering laws and consumer protection.
Prohibited "manipulating" reserves: Reserve funds cannot be used for profit.
What's the Problem?
Many Democratic senators are backing down out of fear of legal loopholes and foreign issuers (like Tether) being free from oversight.
Trump's name has come up, making the political issue even hotter.
Big Tech could enter: People are worried that Meta, Amazon, etc. could become new financial giants.
Why is it Important?
Could make stablecoins more trustworthy.
US dollars become stronger in the digital world.
But... if regulation goes wrong, it could create unfair competition or be prone to misuse.
