The truth behind the SEC's 'surrender': Banks swallowed a $250 billion cake.
SEC Chairman Gary Gensler suddenly reversed his stance: 'Stablecoins are under bank regulation!' This means the traditional banking system is officially taking over the crypto dollar market. There are three core changes:
JPMorgan, Citibank, and other banks are authorized to issue their own stablecoins.
USDT and USDC are forced to choose one: Under new regulations requiring payout in dollars within 48 hours, either apply for a banking license or withdraw from the U.S.
Algorithmic stablecoins directly labeled as fraud.
Three deadly strikes from the new bill
The public players are in a noose.
Issuance thresholds raised to bank-level: Requires both Federal Reserve and Treasury licenses, with reserves mandatorily locked in U.S. government bonds (prohibiting the purchase of Bitcoin/corporate bonds). USDT transferred registration to Singapore overnight, with Tron chain's daily trading volume surging nearly 300%.
New weapon of dollar hegemony.
Treasury Secretary Janet Yellen stated: 'Every on-chain dollar is a lifeline for U.S. debt!' New regulations require stablecoins to purchase short-term government bonds; during the collapse of the Argentine peso, 72% of crypto transactions were settled using stablecoins.
Retail investors reduced to cash machines.
On the night the bill was passed, ETH experienced severe fluctuations, with $580 million in leveraged positions being liquidated in a single day. One investor placed a buy order at $3625, which instantly dropped to $3550 and was wiped out. After banks entered the market, on-chain transfers might incur 'toll fees,' while high-frequency algorithms set traps to lock in prices between $3620 and $3640.
A way out in the turning point of life and death.
Emergency asset swap: Shift to compliant assets like USDC and PAXG; if USDT falls below 0.995, decisive stop-loss is necessary.
Hedging iron law: Hold $10,000 in USDC spot + equivalent ETH short to lock in risk.
Hong Kong Sandbox: New regulations in August allow for algorithmic currency testing, with Standard Chartered and JD.com already involved.
A bigger storm is brewing.
Former SEC official reveals the ultimate plan:
The Federal Reserve may suddenly push for a digital dollar in 2025.
Cross-border remittance fees may double.
90% of the stablecoin market will be controlled by banking giants.
When dollar hegemony merges with blockchain, are ordinary people's crypto assets a Noah's Ark or the Titanic? This regulatory earthquake hides survival codes you haven't yet deciphered—
Focus on convergence, join the convergence team; next issue analysis: In the era of banking chain colonization, how can retail investors protect their hard-earned money using three cold wallet strategies?
Market turmoil; do not act recklessly as a lone wolf. Do you think you are a king? The next cut will be on you, as the current market conditions are clear. Only by joining the convergence team can your survival rate significantly increase.
