President Trump endorsing crypto industry is pretty | Lusubilo Kayange III on Binance Square

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President Trump endorsing crypto industry is pretty amazing.$BTC $ETH $SOL 
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GENIUS Act potential disadvantages, key advantages and what crypto traders should be aware of and do

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"President trump just signed the cryptocurrency bill (the GENIUS Act) . They named it after him, this is the first crypto bill in history to be signed into law. President trump signed the GENIUS Act which regulates a kind of cryptocurrency called stable coins. They are tied to the value of other assets like the dollar or gold which makes them more stable compared to other crypto like Bitcoin which is known to be volatile. Two of the biggest stablecoins are Tether and Circle. One Tether equals $1, and one Circle equals $1.So why the GENIUS Act? Well, it creates a regulatory framework which requires people who issue stablecoin to comply with anti-laundering and sanctions rules. This act likely paves the way for stablecoin to go mainstream and to be used for digital payments. And you will probably see big Wall Street firms and other non-financial companies embracing it. But skeptics worry the GENIUS Act doesn't adequately address the risks. One expert tells CNN, if the assets backing the stablecoin drop in value, it could cause the equivalent of a bank run. But the GENIUS Act is now law of the land, with President Trump delivering another boost to the crypto industry" Vanessa Yurkevich. $USDC $USDT

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As of now, the cryptocurrency industry has over 25,000+ coins, and cryptos gained massive popularity in 2017 when the value of one Bitcoin increased by 1,318%. Not only that, Ripple saw an increase of 36,018% in value, allowing those who invested during that time to make a lot of money. However, in 2018, cryptos dropped significantly, causing investors who had put in large amounts of money to suffer major losses. That was enough to convince many new investors in the industry to believe that it was a scam, leading them to lose hope and return to their previous investments, such as stocks. Nevertheless, the cryptocurrency market has continued to grow and become more stable, gaining a new level of recognition among major financial institutions around the world, including in the United States. As more people get involved in this investment system, more sellers are starting to believe in and accept it as a very effective payment method. This is why this digital system continues to soar and achieve even greater success. $BTC $SOL

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