The "GENIUS" Law ... Stablecoins officially enter a new era!
Trump signed today a law called GENIUS that regulates stablecoins for the first time in America, opening the door wide for banks and companies to issue digital currencies.
Summary of the law:
There must be a 100% real cash reserve for any stablecoin.
No profits (yield) on stablecoins... meaning it's not a digital bank!
Legal protection for holders of the coins in case of bankruptcy of the issuing entity.
Only banks and licensed entities can issue stablecoins.
Foreign companies will need an American license if they want to enter the market.
Implication:
Coins like #USDC and #PYUSD are operating correctly.
And we will see huge banks and companies entering the field soon.
Coins like #XRP and #XLM will benefit greatly.
#Digital_Investment #قانون_جينيوس #العملات_المستقرة #أخبار_الكريبتو
