#USStablecoinBill
US Stablecoin Bill (GENIUS Act):
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What Is It?
A US bill to regulate stablecoins, which are cryptocurrencies that maintain a stable value against the US dollar.
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Key Points:
Stablecoins must be 100% backed by reserves of dollars/liquid assets.
Small issuers (<$10 billion) can choose state regulation.
Must comply with anti-money laundering rules.
Reserves cannot be reused (rehypothecation).
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Controversy:
Partially rejected by some Democrats due to regulatory loopholes (e.g., Tether).
Related to politics & Trump's involvement.
Concerns about Big Tech dominance (Meta, Amazon).
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Potential Impact:
Strengthen the dominance of the dollar globally.
Encourage trust in the crypto market.
Risk of inequality for foreign issuers.
