🤔Everyone has heard that the GENIUS bill could be an important catalyst for the growth of the crypto market, but there is an increasing opinion that if it is passed, many projects may face serious problems:

💬Founder of the DeFi protocol dForce:

• The GENIUS bill represents a "cleansing" for native DeFi and fiat stablecoins. Even the "semi-compliant" USDC is at risk, as evidenced by Circle's urgent negotiations to sell to Coinbase and Ripple.

💬Partner at Mint Ventures:

• Contrary to popular belief, projects like Ethena, Sky, Liquity, and Aave will not benefit from the passage of the law — none of them meet the requirements, and the emergence of regulated competitors under the auspices of Trafi will only intensify competition. GENIUS is negative for decentralized stablecoins, not beneficial to them.

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