GENIUS Act: A Brilliant Strike at Stability?
President Trump signed the GENIUS Act, prohibiting the issuance of income-generating stablecoins. Those very coins that offered interest through staking and lending are now on the chopping block. Classic yield is now illegal. Fiat remains fiat, and a stablecoin is simply a 'soft dollar'.
Reaction? Analyst Nic Puckrin calls it a 'gift' for DeFi: if centralization refuses to pay, decentralization will take under its wing. CoinFund President Christopher Perkins even reminds us: the dollar is depreciating, and yield is not a whim, but salvation.
In practice, the GENIUS Act could become an ironic catalyst: in trying to rein in crypto finance, regulators are inadvertently pushing users into DeFi - where interest rates are currently only subject to risk, not regulation.
So if this is brilliant - it’s more so for Uniswap than for the U.S. Treasury.
