The genius law can establish the domination of the dollar, and the writing of “Book of Rules” star-news.press/wp

The National Innovation and Establishment Act of the American Stablecoins Law, known as the Genius Law, is facing a major vote at the United States Conference, and the risks of the encrypted currency industry are high.

If the US Senate, the Upper Chamber at the country conference, passes on Tuesday, it will approach the country with one step from Stablecoins, and scored a major victory for the encryption industry and the Trump administration, which supports legislation. The next station for the draft law is the House of Representatives, where it will be subject to more audit by legislators.

The Senate voted 68-30 to submit the draft law on June 11, and to open the genius law until the amendments before the final vote. Many Democrats joined the majority of Republicans to win a clot vote.

In the period before voting, industry votes expressed a future look. Queen Bass, chief legal official, Paul Ghroul Appear A positive note on X before voting, highlighting its ability to achieve organizational clarity. Not everyone is on board.

Critics argue that the genius law lacks sufficient guarantees, especially about the possibility of self -trading by the approved entities with the edition of Stablecoins. Senator Elizabeth Warren was among the most vocal opponents, warning The draft law can “actively facilitate” misuse associated with Trump’s encryption companies.

Among the main amendments proposed to the legislation is a ruling aimed at preventing elected officials and their families from issuing Stablecoins, a step aimed at addressing some concerns about conflicting interests.

If a year, the genius law can greatly reshape the scene to regulate encryption. Cointelegraphs have told the owners of industry that legislation may help enhance the role of the dollar in the digital economy and lay the foundation for a more organized global financial framework.

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Bridge between tradfi and Blockchain

The genius law would create a system supervision system, allowing exporters to register in the United States government. In addition, exporters will be asked to obtain 1: 1 support for stablecoins, and to counter regular audits and submit to anti -money laundering regulations.

According to Roshan Robert, CEO of OKX US, the genius law is a “strong indication” that the United States government follows a practical approach to creating digital assets. The law creates “a vital bridge for traditional financing to explore the powered by Blockchain.”

“For OKX, the clear organization in the main markets like the United States enables us to build a responsible and transparent infrastructure for global users,” said Robert. “The law of genius is not only supported by licensed innovation, but also sets the basis for inter -operation between central and decentralized systems – the future that we see is inevitable.”

Stablecoins is often seen as a major bridge between traditional financing and digital assets. These symbols can allow vibrant symbols, most of which are linked to US dollars, for people all over the world to easily send money across the border with fewer fees, and pay the price of goods in a variety of merchants.

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“The Bases Book of the Next World Financial System”

Legislation can also pave the stage of organizing decentralized funds, and perhaps a blow to the Central Bank’s digital currency horizons (CBDC) in the United States.

“The Stablecoin Bill is equally important,” said Mike Cahill, CEO of Doo Labs. “With the already exploring the major financial institutions, Clear Federal Sercipls will introduce legitimacy to Stablecoins as a new category of programmed funds – built -in payments, settlement and even treasury management.

“If the United States gets this correctly, the encryption market will not only lead – you will write the bases book for the following global financial system.”

Related to: The genius law may enhance the domination of the US dollar in the digital economy

The law of genius can refute the abolition of vanishing

Since Trump imposed a customs tariff on commercial partners, discussions have gained about the cancellation of the channel, a possible global transformation away from relying on the US dollar as a global reserve currency, traction. Supporters of the bill said that it could enhance the dollar’s position because most Stablecoins are linked to the dollar, which may enhance its impact on the digital economy.

According to Defillalama, the largest of the two stablecoins is linked to the USDT encryption space from Tether’s Usdt (USDT) and Circle’s USDC (USDC). Together, these symbols constitute $ 217.5 billion, or 86.4 % of the total number of the Stablecoin market of $ 251.7 billion.

“The talk about canceling discharge is absent from a larger point:” supported by dollars is the new financial energy tool in the twenty -first century. “If the genius law passes, now” anyone with a smartphone can carry a compatible digital dollar, which increases its arrival and importance to the US dollar at the moment when critics predict a decline. “

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