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@kazan
🟦 GENIUS Act Passes! US Takes Full Control of Stablecoins 🇺🇸 📅 June 17, 2025 – Passed in Senate (51–23) The $238B USD-pegged stablecoin market enters a new regulatory era. 📈 Projected to grow to $3.7T by 2030. 🔍 Key Highlights of the GENIUS Act ✅ Only licensed banks or issuers can create stablecoins ✅ Must be backed 1:1 with reserves (e.g. Fed cash, Treasuries) 🚫 Rehypothecation banned — no reusing reserve funds 📊 Monthly audited reserve reports required ⚠️ Cannot claim to be “legal tender” or “government-guaranteed” 🏛️ Federal law overrides state laws — States can issue licenses only if standards are comparable 🔐 Custody + Private Keys = Must be held by approved custodians or banks 💥 Unlicensed issuance = $1M/day fine + potential prison time 🌍 The GENIUS Act is a major move by the US to regulate crypto and defend the USD’s dominance in the digital era
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