Recently, the United States has been restless again. The old men in the Senate are preparing to vote to pass a stablecoin bill called the "GENIUS Act" - it sounds like it was written for geniuses, but in fact the content is quite "down-to-earth": whoever wants to issue a stablecoin in the United States in the future must be backed by real money, US dollars or short-term treasury bonds, and cannot just brag or rely on air.

This is not an earthquake in the currency circle, but it is at least a 4-magnitude shake.

For example, $USDC, a "good student" who has always been well-behaved, has directly become the "official certified son" this time, and its future is bright; while $USDT is a bit like a "problem child". The teacher says every day that your parents didn't come to the meeting and that you copied your homework. Now you probably have to invite your parents. It is opaque, has an overseas background, and has mysterious operations... All of them have been targeted. If it is restricted from entering the United States, it is estimated that the currency circle will be in chaos in the short term.

Imagine that a bunch of people originally used $USDT as cash, but the US exchange said "no more", which is the currency circle version of "Alipay suddenly closed Yu'ebao".

Of course, this matter is still being argued about. Republicans said "this bill must be passed", and several Democratic lawmakers said "no, this is not enough supervision of overseas currency issuance, and it is easy to launder money", and some lawmakers specifically asked Trump and a certain crypto company to investigate whether they have any "lovey-dovey" little moves. It's like legislating while eating melons.

But no matter how they argue, if it is really passed, it will be the first federal stablecoin regulatory bill in the United States. The currency circle will no longer be a cowboy in the West, and everyone will have to wear school uniforms in kindergarten.

So what should we do?

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1. Don't exchange all $USDT, but it is recommended to slowly exchange some $USDC.

$USDT is still safe in the short term, but there is a lot of uncertainty. You can keep it for liquidity, and it is more stable to exchange some of it for $USDC for long-term holding or trading in exchanges.

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2. Pay more attention to American platforms and projects

Chains like Coinbase, Circle, and Base, which are "authentic", may benefit from policies in the future.

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3. Don’t be greedy for wild coins and wild projects with high annual returns

Those with “high returns + no background” may be directly kicked out in the future. Be cautious.

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4. There may be opportunities for swing trading before and after the implementation of the bill

There is room for operation in fund switching and market sentiment fluctuations. Keep an eye on it, opportunities are in turmoil.