US Senate dey move on GENIUS Act to make federal stablecoin law and ginger crypto market confidence
US Senate go vote on top di GENIUS Act for June 11. Di aim na to make one big government rule for stablecoins, like Tether (USDT) and USDC. Di law go bring plenty rules wey go cover how dem dey issue stablecoin, how much money dem suppose get for reserve, auditing, how dem go protect customers, and government oversight. E go link di pipul wey dey issue stablecoins to well-known financial institutions so dem go fit dey more accountable. Di GENIUS Act get support from both political parties, and dem wan add some changes wey go make customer protection, national security, and market stability strong. Pipul wey support am believe say di act go make investors trust di market well well, make di market dey clear, and make US dey competitive for di global crypto world. E fit even make more pipul and big big companies join di crypto market. But pipul wey no like am say too much rules fit stop innovation. If dem pass am, di GENIUS Act go clear road for stablecoin rules, help US dollar to still dey relevant, and make pipul dey demand for US Treasury debt through digital assets. Dis new rule na big step towards one single crypto compliance for US, and e go get big big effect on traders, pipul wey dey issue stablecoin, and big investors.
Bullish
Di GENIUS Act don bring full federal law for stablecoins, wey go make clear rules for how dem go operate and hold di pipo wey dey issue am responsible. Dis clear law go likely make institutions trust stablecoins more and make pipo adopt stablecoins like USDT and USDC well well, attract new money and fit increase stablecoin use for trading and payment. Wen dem improve transparency, protect customers, and make di market stable, pipo go trust di crypto sector more, wey go help regulated stablecoins get stable price and fit grow. Apart from dat, if dem see stablecoins as part of di official money system, e fit ginger more link up with traditional finance, including demand for US Treasury assets. Even though some pipo still dey fear say e fit limit new inventions, di immediate effect for traders and investors good well well, because clear law dey always bring more money come and make market mature.