đšWHAT WILL THE GENIUS ACT DO???
đđđ
âą ONLY banks + licensed issuers can launch stablecoins
âą MUST be backed 1:1 with cash or Treasuries, no funny business
âą NO reuse of collateral, rehypothecation is banned
âą Clear redemption rules + monthly audits REQUIRED
âą Canât market stablecoins as legal tender or FDIC insured
âą Federal license beats state license, but states can still participate if they meet the bar
âą Licensed issuers can operate nationwide, "passporting" is approved
âą Private keys + reserves must stay with regulated U.S. custodians
âą Must freeze tokens on legal order, Treasury can block foreign coins
âą Unlicensed stablecoin = $1M/day fines + 5 years in prison
STABLECOINS ARE GOING PRO.