š“ Trump Signs First U.S. Crypto Law ā But Itās Not the Victory It Seems
The GENIUS Act marks a historic milestone by legalizing stablecoins in the U.S.ābut beneath the headlines lies deeper state control.
Key Takeaways:
š 1:1 Reserve Requirement
All stablecoins must be backed 1:1 with U.S. dollarsāno exceptions.
šµ Instant Transaction Freezes
Authorities can freeze "suspicious" transactions without prior notice.
šµļø Mandatory Full KYC
Users must submit passport, address, proof of income, and pass AML checks.
š¦ Banks Enter the Game
Traditional banks are now authorized to issue stablecoinsāunder full regulation.
š Platforms Need Government Approval
Operating in the U.S. requires official licensingāno license, no service.
While it looks like progress, critics argue itās a regulated takeoverāa digital leash disguised as innovation.
Freedom? Or full financial surveillance?
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