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Stablecoin Bill Officially Lands, Dollar Digital Era Arrives
Highlights at a Glance
The US Congress has passed the 'GENIUS Act' and 'CLARITY Act', becoming the first federal-level #稳定币立法 , providing a clear regulatory framework for dollar-pegged digital assets.
OCC's latest interpretive letter confirms: US banks/federal savings institutions can legally conduct crypto asset custody, execution, and clearing businesses.
Policy Highlights
--- Stablecoin issuers must maintain a 1:1 reserve of high-quality liquid assets, such as US Treasury bonds and USD deposits; they are not allowed to issue interest-bearing stablecoins; funds must be managed separately and supervised by monthly auditing agencies.
--- Stablecoin issuers are considered financial institutions and must comply with the Bank Secrecy Act (BSA) and KYC/AML regulations; the CLARITY Act clarifies the SEC's regulatory boundaries, providing a basis for exchange and token classification.
Market Reaction
--- The market expects that small and medium-sized stablecoin projects will be squeezed or exit, and the first launch after the 'GENIUS Act' will involve mainstream institutions.
--- Bank of America expects that stablecoins will accelerate their integration with payment systems in the next three to five years, and smart contract networks represented by Ethereum are expected to benefit significantly.
Interpretation of Viewpoints
This is a truly fundamental institutional restructuring:
1️⃣ Stablecoins have risen to become the digital backbone of the dollar, and are expected to become core tools for cross-border payments and micro-payments;
2️⃣ Traditional financial giants such as JPMorgan, BNY, PayPal, and Visa will compete to achieve on-chain payment retention through stablecoins, and Crypto-native institutions such as Circle and Ripple cannot afford to be marginalized;
3️⃣ Investors should pay attention to compliant stablecoin projects that meet PPSI requirements. The compliance of on-chain protocols and cross-chain payment capabilities will become the focus of value.
In the next 3–5 years, the real bull market will be driven by rules, not speculation. Whoever can seize the opportunity where regulation and technology combine is likely to win the entry point to the next 'financial infrastructure'.
Highlights at a Glance
The US Congress has passed the 'GENIUS Act' and 'CLARITY Act', becoming the first federal-level #稳定币立法 , providing a clear regulatory framework for dollar-pegged digital assets.
OCC's latest interpretive letter confirms: US banks/federal savings institutions can legally conduct crypto asset custody, execution, and clearing businesses.
Policy Highlights
--- Stablecoin issuers must maintain a 1:1 reserve of high-quality liquid assets, such as US Treasury bonds and USD deposits; they are not allowed to issue interest-bearing stablecoins; funds must be managed separately and supervised by monthly auditing agencies.
--- Stablecoin issuers are considered financial institutions and must comply with the Bank Secrecy Act (BSA) and KYC/AML regulations; the CLARITY Act clarifies the SEC's regulatory boundaries, providing a basis for exchange and token classification.
Market Reaction
--- The market expects that small and medium-sized stablecoin projects will be squeezed or exit, and the first launch after the 'GENIUS Act' will involve mainstream institutions.
--- Bank of America expects that stablecoins will accelerate their integration with payment systems in the next three to five years, and smart contract networks represented by Ethereum are expected to benefit significantly.
Interpretation of Viewpoints
This is a truly fundamental institutional restructuring:
1️⃣ Stablecoins have risen to become the digital backbone of the dollar, and are expected to become core tools for cross-border payments and micro-payments;
2️⃣ Traditional financial giants such as JPMorgan, BNY, PayPal, and Visa will compete to achieve on-chain payment retention through stablecoins, and Crypto-native institutions such as Circle and Ripple cannot afford to be marginalized;
3️⃣ Investors should pay attention to compliant stablecoin projects that meet PPSI requirements. The compliance of on-chain protocols and cross-chain payment capabilities will become the focus of value.
In the next 3–5 years, the real bull market will be driven by rules, not speculation. Whoever can seize the opportunity where regulation and technology combine is likely to win the entry point to the next 'financial infrastructure'.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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