GENIUS ACT LAW AND WHAT IMPACT WILL IT HAVE?
The "GENIUS Act" (or GENIUS Act, from English "Guidance and Establishment of National Innovation for Us Stablecoins") is the new bet from the USA to bring order to the stablecoin market, which are like the "proper" cryptocurrencies that are worth the same as the dollar.
The idea is:
* Regulate: Make sure that companies creating stablecoins demonstrate they have real money (dollars, securities) for every "digital coin" they issue. No more "do it yourself" without oversight!
* **Modernize:** Use the technology behind cryptocurrencies (blockchain) to make the dollar more agile and competitive in the digital world, maintaining the economic hegemony of the USA. Think of fast and cheap transfers!
* **Protect:** Ensure that people do not lose money with stablecoins that disappear or do not have the promised reserves. Like a quality seal for digital currencies.
In summary, it is the American government saying: "Okay, crypto, you are here to stay. Now let's organize this mess so that everyone benefits!"