The U.S. has just passed an important cryptocurrency law, and almost no one is talking about it.

It's called the GENIUS Act, and it is the first proper federal law focused on stablecoins.

This could completely change the way stablecoins like $USDC and $USDT operate in the U.S.

Under this new law, only licensed banks or fintechs will be able to issue payment stablecoins. And they will need to maintain 100% reserves in cash or short-term Treasury bonds.

They will also have to publish monthly audits, follow AML/KYC rules, and prioritize users in the event of bankruptcy.

This gives a significant advantage to #USDC, #Circle, and any U.S.-based player willing to follow the rules.

At the same time, this could pressure offshore options like $USDT, which has always operated in a gray area.