#GENIUS稳定币法案

If the "GENIUS Act" is ultimately passed, it will definitely be a milestone event for the cryptocurrency industry! After all, this is the first time that the U.S. Congress has established rules for cryptocurrency (especially stablecoins), which effectively acknowledges the legitimacy of stablecoins. In the short term, the increase in compliance thresholds may eliminate a number of rogue projects, but in the long term, large institutions will enter the market with greater confidence—companies like PayPal and Visa may accelerate their stablecoin business.

The role of stablecoins will also become more critical. They act like the "stand-in for the dollar" in the cryptocurrency world and may become a bridge between traditional finance and DeFi in the future. For example, in scenarios like cross-border payments and real-time settlements that traditional banks struggle with, stablecoins may be more efficient. However, there are risks: the government will definitely strengthen regulation, requiring 100% reserves or regular audits, putting pressure on players like Tether (USDT), which operate as a "black box."

Overall, the bill can be seen as a double-edged sword: the industry will become more regulated, but the original intention of "decentralization" may be diluted. However, if large-scale application is desired, this step may be unavoidable.