Core Viewpoint - The signing of the "GENIUS Act" by Trump represents an extension of U.S. dollar hegemony in the digital age, aiming to consolidate its status as a global reserve currency and create new demand for U.S. Treasury bonds through the regulation of stablecoins [1][9]. Summary by Relevant Sections GENIUS Act Overview - The GENIUS Act establishes a federal regulatory framework for U.S. dollar stablecoins while explicitly prohibiting the creation of central bank digital currencies (CBDCs) in the U.S. [6]. - Key provisions include strict reserve requirements, transparency and compliance mandates, a dual-track issuance qualification system, a ban on algorithmic stablecoins, and consumer protection measures [6]. Impact on U.S. Dollar and Treasury Bonds - The act aims to reinforce the dollar's position by integrating stablecoins into the dollar system, promoting compliant stablecoins as global cross-border payment tools, and increasing demand for U.S. Treasury bonds through mandatory reserve requirements [8]. - The Trump administration emphasizes that the act will create long-term demand for U.S. Treasury bonds, which will be backed by stablecoin reserves [3][8]. Effects on the Federal Reserve and International Monetary System - The act, in conjunction with the "Anti-CBDC Monitoring National Act," diminishes the likelihood of the Federal Reserve issuing a digital dollar, thereby preventing an expansion of government financial surveillance [8]. - The compliance of U.S. stablecoins may accelerate the replacement of smaller countries' currencies, particularly in emerging markets, prompting adjustments in digital currency strategies by other economies [8]. Market Reactions and Industry Implications - The market response has been mixed; compliant issuers like Coinbase saw stock price increases, while Circle faced a drop due to reserve adjustment pressures [8]. - The regulatory framework is expected to lower barriers for traditional institutions, encouraging banks and payment companies to engage in on-chain finance [8]. - The industry may experience a reshuffle, benefiting compliant leaders like USDC while non-compliant stablecoins like USDT may face market exit or reserve adjustment pressures [8].

🇺🇸 Historic Crypto Week in the U.S.✅ Congress passed 3 major crypto bills✅ Trump signed the GENIUS Act into law (stablecoin)✅ U.S. CBDC officially blocked📈 $ETH up to $3600, $BTC steady, crypto market > $4T🏦 Wall Street gears up for stablecoinsClearer rules. Bigger players.Crypto is entering a new phase. #CryptoWeek ...

I believe that these three bills once they go through, we are essentially going to see a pretty big pump like everybody else believes. But who knows. It's anybody's guess.And I would say though that uh this this middle part here, the vote, it was all about the language of the CBDC and who could actually create one, who could bring it forward. And there was members of Congress that just like no, we need this more stringent. I have to tell you, I salute those people that did that because if you know what CBDC ...

美国众议院通过反CBDC监控国家法案，将该法案送交参议院。 ...

🚨🇺🇸 BREAKING: The House of Representatives have passed the Anti-CBDC Bill by a vote of 219-217. ...

BREAKING: 🇺🇸 US House officially passes Anti-CBDC Surveillance State Act. ...

JUST IN: The US House is set to pass the Anti-CBDC Act. ...

BREAKING: 🇺🇸 US House set to PASS Anti-CBDC Surveillance State Act. https://t.co/k5f7Ypvxuq ...

CLARITY AND GENIUS ACT PASSEDWAITING ON ANTI CBDCLET ALTCOIN SEASON BEGIN!Wendy O (@CryptoWendyO):CLARTIY PASSEDGENIUS ACT IS NEXT! ...

Market Trends & Institutional Adoption - Institutional adoption is a tailwind for Bitcoin, potentially driving its price towards $120 thousand [1] - Discussion on institutional vs retail investors buying Bitcoin [1] - Analysis of why institutions are finally allocating to Bitcoin [1] Policy & Regulation - Examination of crypto week activities in Washington DC, including bills and political maneuvering [1] - Focus on the political economy of crypto vs Bitcoin, including political spending and influence [1] - Analysis of the GENIUS Act and stablecoin politics [1] - Discussion of CBDCs vs stablecoins, focusing on privacy, control, and the future of money [1] - Examination of the Tornado Cash case and open-source legal risks [1]