The U.S. cryptocurrency market is making strides thanks to the GENIUS Stablecoin Act.
GENIUS Stablecoin Act: A bridge to the global cryptocurrency platform.
On June 18, according to a report from CoinDesk, analysts at Canaccord Genuity made predictions about the impact of the GENIUS Stablecoin Act passed by the U.S. Senate. This law will turn legal cryptocurrencies into a layer of internet money, opening revolutionary opportunities for quick and safe usage.
Benefits from the legalization of stablecoins under regulation.
This law defines stablecoins as payment instruments equivalent to cash. With instant transaction capabilities and low costs, stablecoins will enhance capital circulation in the cryptocurrency ecosystem. Additionally, the requirement for full reserves makes them a strong demand source for short-term U.S. bonds, contributing to the dollarization of the global market.
The era of programmable currency has arrived.
The analysis group of expert Joseph Vafi asserts that this event marks a significant turning point in the development of the cryptocurrency ecosystem. Legal stablecoins, based on regulatory standards, will enhance the programmability of cryptocurrencies, ushering in an era of self-executing and self-adjusting currencies.
Long-term impacts on the international digital economy.
With the legalization of stablecoins, businesses and financial institutions can fully leverage the potential of cryptocurrency to optimize capital flow, improve transparency, and reduce transaction costs. This momentum also helps expand the application scope of stablecoins, enhancing the global integration of the digital economy.
Source: https://tintucbitcoin.com/canaccord-du-doan-stablecoin-dinh-hinh-tien-so/
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