The Genius Law is approved: what is it about?
The GENIUS Law, recently approved by the United States House of Representatives, is the first federal legislation regulating stablecoins, cryptocurrencies linked to traditional currencies. It requires full reserves, periodic audits, and dual federal-state oversight. This measure provides the clarity that the crypto market desperately needs, but critics warn that it may favor large companies, allowing them to bypass necessary financial safeguards.
Why is it important?
The GENIUS Law is important for investors because it introduces regulatory clarity for stablecoins, a key part of the crypto market. By requiring full reserves and periodic audits, it provides more security and transparency, reducing risks. However, critics are concerned that it may benefit large companies, allowing them to evade important financial safeguards, which could affect market stability and competition.
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