America's Digital Week is coming to an end, and Genius has passed in the House with support from more than half of the Democrats. The future crypto world is set to see more breakthroughs.

🔸The Genius Act reinforces the dominance of the dollar, creating more demand for U.S. Treasury bonds; it counters the digital currencies of BRICS countries.

🔸The Genius Act has a strong impact on USDT and may lead to a change in the landscape.

🔸It poses more challenges to DEX projects like UNI, but at the same time, it provides opportunities for these projects to further empower themselves.

🔹The consolidation of dollar dominance keeps financial power in our hands.

The Act requires stablecoins to hold reserves in dollars or U.S. Treasury bonds, enhancing the dollar's reserve status.

Increased demand for U.S. Treasury bonds: Stablecoin companies will become 'super buyers' of U.S. Treasury bonds, expected to create $1.6 trillion in demand by 2028.

🔹Global trade landscape.

Currently, the Trump administration is seeking ways to lift the tech restrictions imposed during Biden's era. This has caused cumbersome limitations on U.S. exports of high-end chips to non-China markets, allowing U.S. technology to radiate globally.

The Genius Act integrates trade finance, providing more management options for funds.

🔹Impact on USDT.

Tether, as the largest stablecoin globally (with a market value of approximately $120 billion, accounting for nearly 50% of the stablecoin market).

After the Act's passage, compliance-oriented companies like Circle (the issuer of USDC) may benefit, while issuers like Tether may face greater compliance pressure due to high compliance thresholds, intensified market competition, and rising operational costs, potentially losing some market share.

🔹Empowerment and challenges for DEX.

Although Uniswap is a decentralized platform, its front-end interface (operated by Uniswap Labs) may need to restrict U.S. users from accessing certain non-compliant stablecoin trading pairs.

As of now, Uniswap has not completely banned U.S. users from accessing it, but if Tether (USDT) fails to meet U.S. regulatory requirements, it may be prohibited from secondary trading in the U.S., and if effective tracking of decentralized funds is not possible, it may be banned for use in the U.S.

However, there is an opportunity as the operator of UNI once hoped to give dividends to holders of $UNI, but due to pressure from the SEC (as dividends would be considered securities), it did not distribute dividends. However, the Genius Act stipulates that stablecoins are not classified as securities, which also means that these project teams can empower tokens through dividend distributions.

Perhaps looking back a year from now, this will be seen as just the bottom.