#BTCvsETH
Boosts U.S. Dollar Role: Stablecoin reserves must be held in U.S. Treasuries, potentially increasing demand and strengthening the dollar's global position .
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⚠️ Concerns and Criticisms
Consumer Risk: Critics say protections may fall short on redemption risk, hidden fees, and lack of FDIC insurance .
Banking System Impact: Private stablecoins might compete with traditional bank deposits, raising liquidity concerns .
Big Tech & Crypto Influence: Some worry the law favours large corporations and those tied to the Trump family, with oversight possibly benefiting insiders .
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🧭 What’s Next
Rulemaking begins: Agencies to issue regulations within a year.
Industry preparation: Banks, fintechs, and retailers must align products and operations with guidelines.
Launch window: Stablecoin issuance by qualified entities expected by late 2026 or early 2027.
Watch regulation: Senate still considering CLARITY Act and anti-CBDC legislation .
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✅ Bottom Line
The GENIUS Act brings stablecoins into the mainstream U.S. financial system through transparent reserves, regulated issuance, and consumer safeguards. It marks a major shift toward digital currencies becoming part of everyday commerce. That said, adoption and effective implementation are key—and critics urge careful oversight to prevent systemic risks or misuse by corporate interests.
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Let me know if you’d like:
A breakdown of how banks like JPMorgan and Citi plan to use stablecoins
A comparison between the GENIUS Act and EU’s MiCA
Details on how this affects crypto wallets, exchanges, or retailers
