#GENIUS稳定币法案 GENIUS Act Impact Analysis on the Cryptocurrency Market

After the implementation of the GENIUS Act, the stablecoin market will undergo significant reshuffling: 1) Increased compliance costs may eliminate small and medium issuers, leading to higher market concentration; 2) Offshore stablecoins like USDT face the risk of losing American users; 3) Bank-backed stablecoins such as USDC will gain policy benefits. Analysts predict that within 6 months after the act's passage, the market share of compliant stablecoins will increase from the current 35% to 70%, while the trading volume of non-compliant stablecoins may be halved.