Here are some important points that explain the significance of the New Genius Law, approved by the Senate of the United States:
1. The new laws in the United States regarding stablecoins require that reserves be backed one-to-one in dollars, which reduces the risk of collapses.
2. These regulations increase user security by mandating greater transparency and audits.
3. There is a positive impact on consumer confidence, which can attract more traditional investors.
4. Exchanges are also affected as they now must comply with clear regulations. Finally, the previous situation – with less control and more risks – can be compared to the new one, where there is more protection for users.
