It’s only a matter of time before they become the default.”Source: CointelegraphSenate bill seen as path to unified digital systemThe GENIUS Act may be the “first step” toward establishing a “unified digital financial system which is borderless, programmable and efficient,” Grachev said, adding:“When the US moves on stablecoin policy, the world watches.”Republican Senator Cynthia Lummis, a co-sponsor of the bill, also pointed to Memorial Day as a “fair target” for its potential passage.
Vugar Usi Zade, the chief operating officer at Bitget exchange, told Cointelegraph that “the bill doesn’t fully address offshore stablecoin issuers like Tether, which continue to play an outsized role in global liquidity.”He added that US-based issuers will now face “steeper costs,” likely accelerating consolidation across the market and favoring well-resourced players who can meet the new thresholds.
Related: German gov’t missed out on $2.3B profit after selling Bitcoin at $57K“This act doesn’t just regulate stablecoins, it legitimizes them,” said Andrei Grachev, managing partner at DWF Labs and Falcon Finance.“It sets clear rules, and with clarity comes confidence.
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Author / Journalist: Cointelegraph by Zoltan Vardai
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