Why is #GENIUS稳定币法案 so important? Because this bill is not a ban, but an attempt at 'systematic regulation'. The GENIUS Act requires all dollar stablecoins to maintain a 1:1 reserve, limited to cash or short-term U.S. Treasury bonds. Reserve audit results must be disclosed monthly, and user funds are prohibited from being misappropriated or re-collateralized. Once the market value exceeds $10 billion, it must enter the federal regulatory system. Stablecoins are already being treated as 'formal financial instruments'. Personally, I feel that this is a struggle for monetary dominance. The U.S. does not want stablecoins to run out of control, nor does it want to be outpaced by other CBDCs. Therefore, it chooses to set rules directly, first 'incorporating' stablecoins, and then pushing them globally.