Well, ladies and gentlemen, congratulations! America has officially legalized the digital dollar. No, not that CBDC, which gives every free-thinking citizen the chills. We're talking about the new, shining, like a soldier's boot on parade, GENIUS Act, the fresh law on stablecoins, signed by none other than Donald Trump. This happened on July 18, 2025. A historic moment. Almost like the moon landing, only without the moon, and with a bunch of securities reserves.
America, welcome, now you have 'official' digital money.
Just think about it: now, if you want to issue your own stable crypto dollar, you must meet a whole bunch of requirements. One-to-one reserve? Of course. Audits every month? Well, who doesn’t love when someone looks into their accounting? Transparency, compliance with AML, in general, almost like in a bank. Only now it’s called 'innovation.'
Wasn't the essence of cryptocurrencies to break away from the traditional financial system? Oh yes, that was before banks, Amazon, and Wall Street decided they also wanted to play in blockchain.
Banks are rushing into crypto.
JPMorgan, Citi, even Bank of America are now openly saying: 'We want our own stablecoin.' Not because they've suddenly believed in freedom and decentralization. But because it's profitable. Fast, cheap, and most importantly, legal. The GENIUS Act has become their ticket to the cryptocurrency paradise, where everything is controlled but looks as if it's 'on the wave of progress.'
And while startups, bearded coders, and crypto enthusiasts wonder if they can launch something of their own, the big players are already obtaining licenses and building their stable castles on the sand of regulation.
AmazonCoin and WalmartDollars, who’s next?
They say Amazon and Walmart are already considering launching their own stablecoins. Imagine: you go to Amazon and pay not with dollars, not with bitcoin, but with JeffToken. Because why pay 2% to Visa, if you can create your own currency? It sounds like the finale of a crypto utopia, but with a cash register and corporate return policies.
'But this is freedom!', a CNN reporter will tell you.
This is not freedom. This is formatted, licensed, certified 'freedom' approved by the regulator. It's like being issued a certificate of free citizen, but only after fingerprinting, blood analysis, and consent to monthly audits.
The law protects reserves, banks, businesses... but what about the consumer? Where's the deposit insurance? Where are the compensation mechanisms for smart contract errors? Where, after all, is your choice?
Europe and Asia are no longer lagging behind.
The EU with its MiCA has long been building a crypto fence, and starting August 1, Hong Kong will also issue licenses for stablecoins, but only to licensed and strictly vetted companies. The era of digital money is coming, in which your participation is possible if you are a bank, a corporation, or, at the very least, a very polite startup with a billion in turnover.
What should ordinary people do?
Good question. Perhaps you will just be allowed to use these coins, but not create them. Not to decide how they work. Not to participate in governance. Just to pay, sign agreements of 15 pages, and be happy that now you have AppleDollar and PepsiCoin.
Conclusion:
The GENIUS Act is indeed a 'genius' law. Just not for you and me. But for those who have long been waiting to legally and without competition enter the cryptocurrency space with titanium boots and a corporate label.
Maybe this is even good. Because now, at least, it has become completely clear: the revolution is canceled. Regulation begins.