Bipartisan Support for GENIUS Act Before July 16 Vote
Former President Donald Trump don talk say e don get bipartisan support for GENIUS Act, wey get 11 out of 12 House members plus Speaker Mike Johnson support am. Dem plan to vote for dis stablecoin regulation bill for House on July 16. Dis law go set federal rules wey go cover reserve requirements, monthly disclosures, how dem dey operate transparent, bankruptcy protections and consumer protections. People wey like am talk say GENIUS Act go boost investor confidence, make institutions dey use am well and stop states wey dey do different kine oversight. But critics dey warn about too much regulation, high compliance costs for small issuers and say e fit spread to other crypto areas. If dem pass am, e go move go Senate, then e go need president sign and detailed rules go follow. Traders suppose dey check the final text, study their stablecoin, and prepare for stricter rules as dis vote fit be big change for stablecoin regulation and market stability.
Bullish
Clear federal stablecoin regulation under di GENIUS Act dey reduce legal wahala and counterparty risk, e dey attract institutional capital and e dey make market stable. Short term, traders fit shift money to compliant stablecoins like USDC, while unregulated issuers fit see money waka comot. Long term, one uniform regulatory framework go promote wider adoption, deeper liquidity and better growth for stablecoin market. Dis factors dey support better outlook for regulated stablecoins plus related infrastructure.