#GENIUS稳定币法案 Today, a significant event occurred in the encryption community that everyone is paying attention to, which is the motion vote for the stablecoin "GENIUS Act" has passed.

The main content is to ensure that stablecoins are backed by 1:1 reserves and to promote transparency.  Implement anti-money laundering (AML) and consumer protection measures.  Solidify U.S. leadership in global digital finance.
Previously, the Democrats obstructed by saying that the president could not issue coins. This time, they also made a compromise; the bill prohibits congressional members and senior executive officials from issuing payment-type stablecoins during their term of office. However, the president and vice president are not included in this ban. Therefore, the Trump family's stablecoin $USD1 business can still continue.
The importance of the stablecoin bill:
1. First, stablecoin is the strongest profit in encryption.
First of all, stablecoins themselves are the most successful application, and they are also RWA applications! USDC, USDT, and others are products that tokenize the "real-world asset" of the US dollar. We know that the core of RWA is compliance, so the stablecoin legislation essentially clarifies the legal status of stablecoins, which are the most basic RWAs, laying the legal foundation for the entire RWA sector.
Other assets such as stocks/bonds, as long as they meet the 1:1 reserve support and anti-money laundering requirements, should all be processed subsequently.
2. Compliance channel opened
The bill establishes clear registration and regulatory mechanisms, which means:
Traditional financial institutions can compliantly tokenize assets.
There is a clear legal bridge between the on-chain and off-chain worlds.
Large institutions can enter with confidence, bringing more quality assets.
Web2 users can fully comply with the exchange of fiat currency-stablecoin.
3. Liquidity Improvement
Stablecoins are the lifeblood of on-chain liquidity. Currently, the scale of stablecoins exceeds 200 billion, supporting a market value of 30 trillion in cryptocurrencies. Former U.S. Treasury Secretary Becerra predicted that compliant stablecoins will reach an issuance scale of 2 trillion USD within a few years, providing abundant liquidity for the crypto market.
4. Establishing Trust Mechanisms
The stablecoin legislation requires strict reserve management and auditing, and this transparent mechanism can be applied in other scenarios, which will enhance the overall trust in the encryption industry, especially in the RWA market, addressing the issue of traditional financial institutions' lack of trust in blockchain assets.
However, this bill has not been officially passed yet, and the formal vote in the Senate will take place on May 22. Everyone, follow the subsequent developments!