#GENIUS稳定币法案 The U.S. Senate has finally passed the Stablecoin Genius Act with a vote of 68 to 30

In the past, the public's impression of stablecoins, to be honest, was not very good. Many people felt that they were opaque and unregulated. Even mainstream stablecoins like USDT and USDC have raised questions: Do they really have sufficient reserves? Who is responsible if something goes wrong?

But now, the United States has started to take action.

The U.S. Senate has finally passed the Stablecoin Genius Act with a vote of 68 to 30.

Why is this so important? Because this legislation is not a ban, but rather an attempt at "systematic regulation."

The GENIUS Act requires that all U.S. dollar stablecoins must have a 1:1 sufficient reserve, with assets limited to cash or short-term U.S. Treasury bonds. Monthly disclosure of reserve audit results is required, and users' funds are prohibited from being misappropriated or re-collateralized. Once the market value exceeds $10 billion, they must enter the federal regulatory system. Stablecoins are now treated as "formal financial instruments."

Personally, I feel that this is a struggle for monetary dominance. The United States does not want stablecoins to go out of control, nor does it want to be surpassed by other CBDCs. Therefore, it chooses to set rules directly, first "incorporating" stablecoins, and then pushing them globally.