Regulatory implementation is not the end; the real agony is when the shoe hasn’t dropped! (GENIUS Act) This 'blunt knife' may cut losses in the short term, but it sharpens knives for the long term!
Tang Seng's viewpoint interpretation:
Short-term bearish:
Brothers, the new bill in the U.S. (GENIUS Act) has finally passed after much debate, but looking at it, the most headache-inducing digital asset tax rules remain unchanged! The taxes due are still the same; if you buy and sell ETH and make a profit, the IRS will still tax you as if it's 'property'. It’s like going to the market to sell vegetables and the government suddenly declares that your vegetables will now be classified as 'luxury goods', requiring you to pay more taxes! In the short term, this is definitely a cold shower, especially for friends who enjoy high-frequency trading and DeFi arbitrage; they’ll have a tougher time calculating their profits, and some may be scared into watching from the sidelines or even reducing their positions. ETH prices might take a hit and face some fluctuations.
Medium to long-term bullish:
But! As an old hand, I think there’s a 'hidden benefit' in this bill — it has set strict rules for stablecoins (like USDT, USDC)! It requires issuers to back their coins 1:1 with real cash and to publish their accounts monthly for proof. This is a strong move! Think about it; Tether used to be questioned about 'over-issuance' and 'lack of collateral', which made the market anxious. Now that the rules are established, the credit foundation for stablecoins is solid! Why is this good for ETH? Because the trading volume of stablecoins running on the ETH chain is astronomical! Mainstream stablecoins like USDC and DAI are fundamentally based on Ethereum. The more stable and widely used the stablecoins are, the more traffic (trading volume) and 'tolls' (Gas fees) will flow on this 'highway' of ETH! It’s like adding a more reliable toll booth at the entrance of the highway; in the long run, there will only be more cars!
Take an example: Think about when Hong Kong issued licenses for virtual assets last year; although the details were not fully released, the 'recognition' was certain, and market sentiment immediately improved. This time, the U.S. is setting rules for stablecoins; although taxes haven’t changed, it’s still like handing out 'exams' in a chaotic field, and the dawn of compliance is right in front of us! What do institutional investors fear the most? They fear policy black boxes! Now that the rules are gradually becoming clearer (even if it's only partially), they will be more willing to enter the market and buy. As one of the preferred allocations for institutions, how could ETH not benefit?
So, if you see ETH drop a little due to the 'taxes not being relaxed' news in the short term, don’t panic! That could be an opportunity for the old hand's 'pick up passengers'. Remember, the future of blockchain lies in applications and ecology; as the 'king of applications', ETH needs ample 'fuel' from stablecoins, and that’s the hard truth! Do you think this pullback is a trap or a golden opportunity? Click to follow; tonight in the live broadcast, the old hand will reveal the secrets of bottom-fishing in the 'post-GENIUS era', plus exclusive 'anti-tax strategies' for free!
