Genius the act takes a step
After years of legal uncertainties and announcements of the new upcoming regulations, US lawmakers have just captivated the historical phase of the crypto sector. The US Senate has just accepted a brilliant act that finally gave the statutory framework for the Stablecoins.
The bill was adopted with 68 favorable votes against 30 unfavorable. The vast majority that testifies to the rare Bipartisan understanding of digital financing! This event ends several years of uncertainty, which has crippled the sector and analysts already see the acceleration of institutional adoption approaching.
Things will also change in the emitters of the Stablecoins. These will have to win a specific federal license and keep reservations 100% of the tokens value in circulation. They will also be obliged to perform regular audits and publish evidence of reserve every month.
But beware, the genius act is not yet fully accepted! The House of Representatives must now explore the text. If it gives its green light, go to the presidency for the final signature. Once the project is announced, the regulators will have 180 days to specify the rules of the application.
Not everyone applauds
Many experts sound alarm about the possible consequences of this legislation. In addition to the centralization fears caused by the obligations to maintain 100% reserves for liquidity and see how small stable -o -emiters die, we are careful about the possible crisis.
In the 19th century, the United States has already attempted a decentralized banking system where each bank could create its currency if they have the necessary guarantees. If some of the well -regulated states came out of it, others have plunged into real money chaos with cascading bankruptcy and citizens who lost everything.
That is why the opponents of the brilliant law are alarm: have private stablecins proliferated, even under the alert eye federally, they can weaken the entire US payment system. Massive selling reserve assets could cause the financial markets to shake and the whole economy!
Morality History: Although the law is great, it does not always make people happy.
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