#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 perception of stablecoins has not been very good. Many people think they are opaque and unregulated, and even mainstream stablecoins like USDT and USDC have faced questions: Do they really have sufficient reserves? Who is responsible when problems arise?

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

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

This legislation does not prohibit stablecoins but is an attempt at 'systematic regulation.'

The GENIUS Act requires all U.S. dollar stablecoins to maintain 1:1 sufficient reserves, with assets limited to cash or short-term U.S. Treasury bonds. Reserve audit results must be disclosed monthly, and users' funds are prohibited from being diverted or re-staked. Once the market value exceeds $10 billion, they must enter the federal regulatory system. Stablecoins are now treated as 'formal financial instruments.'

The real impact of this legislation extends beyond the blockchain:

1️⃣ Increase the transparency of stablecoins and rebuild market trust.

2️⃣ Provide traditional financial institutions with a compliance pathway.

3️⃣ Projects face higher compliance thresholds, reducing innovation.

In a sense, this is a reshuffle. Stablecoins will resemble real-world banking products more, and will no longer just be a 'medium of exchange' in the crypto space, but may become a key bridge between the real world and the blockchain world.

For example, in and out of funds. In the past, many users could only rely on OTC and gray channels, but now, if compliant stablecoins can directly connect to bank accounts, the thresholds for payment, cross-border transactions, and on-chain settlements will significantly decrease. This is the key to genuinely pushing stablecoins into the mainstream.

Of course, not everyone supports this approach. Some are concerned that excessive regulation will stifle innovation and turn crypto into a mere appendage of the financial industry.