#USStablecoinBill also known as the GENIUS ACT, if passed will bring regulatory side to crypto too. since the arrival of trump, he has been trying his best to make crypto at par with fiat or at least much more trust worthy then it is at present. Crypto world being decentralized has an inmate risk for the investor. since if scammed who will investigate or regulate it for him. the investor's money was always at risk. if he sends some one crypto to wrong address by mistake then it's gone. no one can get it for him unless the receiver out of human morality sends it back. but let's just be practical. this does not happen. if sent to wrong wallet then its gone forever. there has always been need of government regulator to keep a watchful eye on scammers be if some mistake happens from the investor which makes him loose his crypto then this regulator would find a way to correct it for the investor. now reaching this phase of crypto regulation would take time but the GENIUS ACT is first ever regulation in this direction.
the GENIUS ACT would lay down regulations for the establishment of table coin. not everyone would be able to just announce a stable coin. they would be required to fulfil certain requirements so that their crypto might be listed as stable coin..
Many democrats and Republicans congressmen already support this bill. but the set back has come from the senate where several democrats senators have shown dissatisfaction with the bill. now it is to be seen that to what extent trump's close aides would be able to persuade dissatisfied democrat senators.
if approved this would be a game changer in crypto world and might lift the crypto currencies or may be it marks the start of the altcoin season..
