GENIUS Law and Shadow Currency on the Chain #StablecoinLaw

With the second quarter of 25 coinciding with many cryptocurrency conferences in North America, on the 19th of the month, the U.S. Senate passed the GENIUS Law (Guidance and Creation of the National Innovation Act for Stablecoins) with a vote of 66 in favor and 32 against.

Within less than a week, numerous financial institutions and cryptocurrencies rushed to interact with one another, and as a friend of mine said, the entire market became turbulent.

The uniqueness of this law lies in its ability to significantly impact the global financial economy in both the short and long term, with many levels of complexity gradually accumulating, just like a major earthquake occurring near the earth's surface.

If the GENIUS Law is successfully implemented, it will cleverly mitigate the impact of cryptocurrencies on the current financial situation of the U.S. dollar and U.S. Treasury bonds, while also boosting the growth of value and liquidity in the cryptocurrency market linked to the U.S. dollar.

Essentially, it transforms the current advantage of the U.S. dollar as a price anchor into a long-term advantage as a value anchor, earning it the title of genius.