The core differences between #GENIUS稳定币法案 USDC and other mainstream stablecoins (such as USDT, DAI, etc.) mainly lie in the following aspects:

1. Issuing entities and backing methods

- USDC: Issued by compliant institutions such as Circle and Coinbase, claiming to be fully backed 1:1 by USD reserves, short-term treasury bonds, and other assets, regularly subject to independent audits, with high transparency.

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- USDT (Tether): Issued by Tether, with early doubts about the transparency of backing assets (gradually disclosing part of the reserve composition in recent years), and has faced accusations of "over-issuance."

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- DAI: A decentralized stablecoin generated based on collateral on the Ethereum chain (such as collateralizing ETH and other crypto assets), pegged to the USD, with no direct backing from real-world assets.