#GENIUSActPass
How the GENIUS Act impacts stablecoins
The GENIUS Act is promoted by the cryptocurrency industry, and the act’s goal is to make crypto safe and accessible for daily transactions and to give people confidence to use it.
Right now, cryptocurrency is virtually useless as currency since almost no retailers accept it in payment. So, the act focuses on some measures that maintain the value of stablecoins and otherwise attempt to make the entire stablecoin system, um … actually stable and less risky. That’s key because if a stablecoin can’t maintain its peg to a real currency, then it’s apt to blow up
