The U.S. Congress has passed a new law called the “GENIUS Act,” which pertains to stable digital currencies, such as USDT and USDC, meaning any digital currencies that always have a price close to the dollar.
This law provides a clear legal framework for these currencies. It means their use is no longer random or unclear, but has been officially authorized within the U.S. financial system.
What is its impact?
Major companies, like Amazon or banks, can now use stablecoins for payments or transfers without legal issues. This could make these currencies used in everyday life, like paying in stores or transferring between countries.
What does it mean to you?
This raises confidence in the crypto market and makes it more stable, making stablecoins powerful tools for holding value or making payments, especially in countries experiencing local currency fluctuations.
