$USDC

Fleeing overnight! The U.S. 'GENIUS Act' is in effect, and a major reshuffling of stablecoins begins

Nuclear-level regulation: The U.S. puts 'shackles' on stablecoins

The U.S. Senate passed the 'GENIUS Act' with a high vote of 68:30, completely ending the 'wild growth' era of stablecoins

The core of the bill is two points: 1:1 dollar reserves + federal license, directly forcing Tether to relocate its headquarters to El Salvador overnight, while USDC happily embraces compliance dividends

This regulatory earthquake is not about 'industry standards,' but rather the beginning of the U.S. harvesting the on-chain world with dollar hegemony

1. Core of the bill: Retail investors are safe, but USDT is in trouble

100% reserve requirement: From now on, all stablecoins must be fully backed by cash or short-term U.S. Treasury bonds, prohibiting algorithmic stablecoins from 'air anchoring.' Users can redeem dollars at any time, significantly reducing the risk of bank runs.

Tiered regulation:

Small players: Stablecoins with a market cap of less than $10 billion only need state-level filing, leaving a lifeline for startups;

Giants: Those over $10 billion (such as USDT, USDC) will be directly regulated by the Federal Reserve, with monthly audits + mandatory disclosure of reserve structures.