$USDC

The U.S. just passed a major crypto bill and barely anyone is talking about it.

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

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

Under this new law, only licensed banks or fintechs will be allowed to issue payment stablecoins. And they’ll need to hold 100% reserves in cash or short-term Treasuries.

They’ll also need to publish monthly audits, follow AML/KYC rules, and give users priority in bankruptcy.

This gives a huge edge to #USDC, #Circle, and any U.S.-based player willing to play by the rules.

At the same time, this could pressure offshore options like $USDT, which has always operated in a grey zone