Trump Signs the GENIUS Act: A New Era of Digital Finance in the United States!

Early this morning, the White House witnessed a historic moment in the cryptocurrency world! President Trump officially signed the GENIUS Act, marking the formal establishment of the first federal regulatory framework for stablecoins in the United States. The event gathered high-ranking government officials and leaders from the crypto industry, and Trump passionately stated that this is a great revolution in financial technology, with the potential to reshape the global financial landscape hidden behind this act.
This bill is truly incisive and powerful:
100% Reserve System - For every stablecoin issued, there must be $1 in cash or short-term government bonds reserved. Algorithmic stablecoins are directly vetoed, marking the end of the LUNA tragedy; a list of reserve assets must be publicly disclosed every month and supervised by a third-party auditing firm, eliminating any thoughts of asset misappropriation; licenses become a matter of life and death, and those without federal or state licenses are prohibited from issuing stablecoins, with state license limits restricted to $1 billion, leaving small players to watch helplessly.
Trump made it clear that this bill not only consolidates the global dominance of the U.S. dollar but also allows ordinary people to use digital currencies with more confidence. Treasury Secretary Basent further pointed out that the global use of stablecoins is effectively equivalent to indirectly purchasing U.S. Treasury bonds, which will further strengthen the dominance of the dollar.
Once the bill was introduced, Wall Street was in an uproar. JPMorgan started testing deposit tokens on the Base chain, and Bank of America quickly followed suit to initiate crypto payments. Standard Chartered also joined the ranks of spot trading, while Visa's stablecoin settlement volume surged. Amazon and Walmart are quietly planning to issue digital currencies. Even more noteworthy is that the $8.9 trillion U.S. retirement fund 401k is closely monitoring this market, and Trump has instructed the relevant departments to research the entry path.
Of course, the introduction of the bill has also sparked some controversy. The risk of monopolies by tech giants has intensified, there may be loopholes in anti-money laundering mechanisms, and the large-scale purchase of U.S. Treasury bonds by stablecoins could lead to volatility in the U.S. bond market.
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