GENIUS Law Dey Push $20T Crypto Market While E Dey Challenge USD
For June 17, di U.S. Senate don approve di GENIUS Act wey require say di dollar-backed stablecoins dem kolateralize 1:1 wit high-quality liquid assets—mainly U.S. Treasuries—to make sure stability and transparency dey. Di Executive Director, Bo Hines, talk say dis stablecoin regulation fit make di U.S. crypto industry grow reach $15–20 trillion as e go support 24/7 tokenized securities markets and attract plenty capital inflow. But, Amundi CIO Vincent Mortier warn say fully backed stablecoins fit compete wit di U.S. dollar, reduce demand for physical dollars, and e fit even put di greenback reserve-currency status for risk. E talk say if issuer dem begin keep plenty treasury and tech companies wey dey act like quasi-banks, e fit cause big risk for di payment system. Di stablecoin market don cross $254 billion (98% pegged to USD); JPMorgan believe say supply go double for next years, and Treasury Secretary Scott Bessent predict say e go reach $3.7 trillion by 2030. Traders suppose dey watch how issuer dem dey follow di collateral rules, changes for Treasury demand, and any wahala wey fit affect di USD demand as di bill dey waka go House vote.
Bullish
Di clear framework wey de GENIUS Act create for dollar-backed stablecoins fit boost market confidence and make institutions adopt am well well, dis one dey support beta look for market. For short term, traders go fit see more stablecoins and related digital asset wey people dey put money inside as regulatory wahala dey reduce. For long term, 1:1 collateral rules plus expected growth reach $3.7 trillion by 2030 mean say demand for stablecoins and tokenized products go still strong. But e fit get wahala as Amundi talk say stablecoins fit come challenge USD and also changes wey fit happen for Treasury demand, na wetin dem suppose dey monitor well.