The GENIUS Act Process and Its Impact on the US Cryptocurrency Market
Overview of the GENIUS Act
The GENIUS Act (Global Exchange for New Income and Unification Strategy) is getting closer to becoming law in the United States. This act paves the way for stablecoin issuers to become strategic partners in the country's digital economy. This new legal framework promises to reshape how stablecoins operate, especially blockchain-based currencies linked to fiat values like USD, EUR, or JPY.
The Influence of Stablecoin in the Cryptocurrency Ecosystem
The Increasing Role of Stablecoin
Stablecoins have become the backbone of the DeFi (Decentralized Finance) system. As lawmakers consider the GENIUS Act, stablecoin issuers will gain more power, significantly affecting transfer activities, reserves, and control of cryptocurrency cash flow. The formalization of stablecoins within this new legal framework enhances transparency and safety for investors and issuers.
The Pure Benefits of Formalization
With this approval, stablecoin issuers can scale operations, integrating blockchain-based financial services such as lending, borrowing, and interest distribution. This means that stablecoins could become official payment mediums, providing greater stability and clearer predictability for the entire cryptocurrency ecosystem in the United States.
Impact on Investors and Global Markets
Value Growth and Trust
The GENIUS Act moving closer to legal status helps build trust among institutional and individual investors. Tightly regulated stablecoins will mitigate risks associated with stability and the ability to maintain value over time. As a result, significant capital can flow into the cryptocurrency market without concerns about sudden volatility.
Impact on Global Flow
At the same time, stablecoin issuers can expand market share, promoting faster and safer cross-border transactions. The surge in international transactions will increase liquidity, opening up new opportunities for blockchain projects to develop on a global scale.
Conclusion
The GENIUS Act is advancing towards legal recognition, not only strengthening the position of stablecoin issuers within the cryptocurrency ecosystem but also opening up new prospects for controlling and harnessing the potential of stablecoins in the US and global economy. Investors and developers need to quickly seize opportunities from this new trend to optimize financial strategies, leverage competitive advantages, and drive long-term growth.
Source: https://tintucbitcoin.com/phe-duyet-genius-act-mo-duong-cho-stablecoin/
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