$What is the GENIUS Act?
The GENIUS Act, passed on July 18, 2025, is a U.S. law regulating stablecoins or the cryptocurrencies tied to the dollar for steady value. It requires issuers to hold equal reserves (like cash), conduct monthly audits, follow anti-money laundering rules, and prioritize stablecoin users if issuers go bankrupt. It aims to make stablecoins safe and trusted.
Impact on Cryptocurrency -
More Trust, Less Freedom: The Act makes stablecoins reliable for payments, but it puts banks and regulators in charge. Bitcoin was built to avoid this control, letting anyone participate without permission.
Big Players Win: Strict rules favor large companies, limiting small innovators. Bitcoin thrives on open access; this Act creates barriers.
Privacy Risks: The law demands user tracking, unlike Bitcoin’s private transactions.
Dollar Focus: It strengthens the dollar, not a neutral global currency like Bitcoin.
Conclusion The GENIUS Act makes stablecoins mainstream but sacrifices Bitcoin’s core ideas: decentralization and freedom. It risks turning crypto into a regulated system, far from my vision of trustless, open money.
