稳定币大消息！全线大涨！

Core Viewpoint - The passage discusses the recent approval of the GENIUS Act, a regulatory framework for stablecoins in the United States, which is expected to enhance transparency and investor protection in the stablecoin market [1][2]. Summary by Sections Stablecoin Regulation - The GENIUS Act defines "payment stablecoins" as digital assets pegged to a fixed currency value, primarily for payment or settlement purposes, and clarifies that they are not classified as securities or commodities [2]. - Only "Permitted Payment Stablecoin Issuers" (PPSI) can issue stablecoins in the U.S., which includes banks and certain state-level institutions, with oversight based on market capitalization [2]. Reserve and Transparency Requirements - Issuers must hold liquid assets equivalent to the stablecoin issued, ensuring a 1:1 reserve ratio to maintain value stability [3]. - Regular third-party audits and monthly liquidity reports are mandated to enhance market trust, with specific requirements for issuers based on their market capitalization [3]. Investor Protection - In the event of issuer bankruptcy, stablecoin holders have priority over other creditors, and misleading marketing practices are prohibited [3]. - Issuers are required to comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations [3]. Market Reactions - Following the passage of the GENIUS Act, stocks of stablecoin issuers like Circle and cryptocurrency platforms like Coinbase showed minimal changes, with Coinbase experiencing a slight increase [3]. - The cryptocurrency market saw significant price increases, with Bitcoin surpassing $120,000 and Ethereum rising over 7% [4]. Legislative Developments - The U.S. House also passed the CLARITY Act, which aims to establish a regulatory framework for cryptocurrencies, shifting oversight from the SEC to the CFTC, although it faces opposition from some Democrats [7]. - Another bill, the CBDC Anti-Surveillance State Act, was passed to prevent the Federal Reserve from issuing central bank digital currency without Congressional approval [7].