Oneke
--
About the latest GENIUS stablecoin bill! Even novices can understand it in seconds!
🚂 The amended GENIUS stablecoin bill is set for a Senate vote tonight; if passed, it will become the first federal legislative framework for stablecoins in the U.S. (There is no doubt that this bill will pass.)
Let's take a look at the key points of the amended GENIUS bill:
1. The most severe move is extraterritorial jurisdiction:
This primarily targets entities like Tether, which will not differentiate based on registration locations; as long as they service U.S. users, they must obediently follow the Federal Reserve's commands, effectively cutting off the path for overseas stablecoins to "regulatory arbitrage."
2. Clearly prohibit non-financial publicly listed companies from issuing stablecoins:
Let's take a look at the key points of the amended GENIUS bill:
1. The most severe move is extraterritorial jurisdiction:
This primarily targets entities like Tether, which will not differentiate based on registration locations; as long as they service U.S. users, they must obediently follow the Federal Reserve's commands, effectively cutting off the path for overseas stablecoins to "regulatory arbitrage."
2. Clearly prohibit non-financial publicly listed companies from issuing stablecoins:
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
249
0