GENIUS Act Dey Boost Stablecoin Watch; Bitwise CIO Don Reply
President Trump don sign di GENIUS Act for July 18, wey create di first federal framework for stablecoin regulation. Di law dey try improve how dem protect customers, fight money laundering, plus make big investors dem enter blockchain plus crypto markets. E set clear rules for how asset suppose dey back stablecoins, real-time trading plus redemption. Bitwise Asset Management CIO Matt Hougan later talk say critics wey dey compare modern stablecoins with di 19th-century US free-banking no see di koko. E talk say today stablecoins dey operate under strict regulation, no be like di old-time banknotes wey no too reliable. Hougan also talk say state-regulated tokens get $10 billion cap and small for di market, while over 95% stablecoins dey follow federal oversight wey require transparent asset management. E ask policymakers make dem rely on current frameworks for stablecoin regulation and oversight.
Bullish
Di introduksen of di GENIUS Act and di after defense of modern stablecoins by Bitwise’s CIO dey provide clear federal guidelines and counter critiques wey come from outdated analogies. Dis regulatory clarity dey reduce legal uncertainty and e boost confidence among institutional and retail traders. For short term, market fit see increased demand for regulated stablecoins as traders dey expect smooth redemptions and better asset backing. For long term, formal stablecoin oversight go likely attract more institutional investment, improve liquidity and support wider adoption of crypto assets, wey go reinforce a bullish outlook for di stablecoin sector.