#BinanceHODLerC Trump signs the GENIUS Act which regulates stablecoins like USDC and USDT
It states that:
- Issuance of currencies only by licensed entities (bank or specialized company)
- The currencies must be pegged to the dollar at a 1:1 ratio with easily liquid reserves (dollars or treasury bonds)
- Monthly disclosure and annual audit
- Consumer protection and anti-money laundering
A historic step to regulate the crypto market and make America a leader in digital assets, and this law is the first legislation in the crypto space of this magnitude, and other countries are expected to follow suit soon.$BNB
