The US Genius Act has been passed. Why is it called the Genius Act? Because some genius has perfectly solved the issue of buying US debt. The passage of the Genius Act signifies that when cryptocurrencies land on Normandy, the Genius Act can reshape stablecoins with six rules. For every dollar of stablecoin issued, it must hold corresponding cash, demand deposits, and short-term US debt, prohibiting the misuse of any of these items or any funds. In other words, stablecoins must have real cash backing them, and reserves must be shown every month, with reports needing endorsement from a professional auditing agency, and financial reports must be transparent for everyone to see. Stablecoins exceeding $10 billion must accept bank-level regulation, which is strict licensing management. All reserve assets must be held in regulated financial institutions, which is fund custody. As a safe deposit box for stablecoins, the law recognizes this as a new type of payment tool, not subject to the constraints of securities law, providing stablecoins with proof that existing stablecoins USDT and USDC have an 18-month transition period. These six provisions represent a restructuring of the US stablecoin financial landscape, ending the Crisis of Confidence. In the past, people were always worried about whether stablecoins were just paper castles; is Tether's reserve really there? Will Circle suddenly explode? However, the Jiu Act mandates transparent regulation of reserves, which is equivalent to giving stablecoins a bulletproof vest. The situation that stablecoin giants Tether and Circle have longed for has emerged, equivalent to the US government providing them with strong backing through strict financial regulation, and they can enjoy billions of dollars in interest each year just by holding US debt; compliance is actually their greatest demand. When central banks' digital currencies (CBDC) want to monopolize the market through centralization, decentralized blockchain stablecoins break through the siege, meaning the world will adopt an open standard of blockchain plus tokens, and your digital currency will not be a closed database controlled by the central bank. Compliance photography is the entry ticket for traditional financial institutions; in the future, US stock accounts will be able to directly exchange stablecoins. The concept of 2WA's real asset on-chain will usher in an explosion, and crypto events have accessed the global financial market's main artery, with global stablecoins holding nearly $200 billion in US debt, making stablecoins important buyers of US debt. After the NUS plan is passed, the buying volume of US debt will increase tenfold, perfectly solving the issue of insufficient buying of US debt. Crypto assets are deeply bound to the dollar hegemony in a sweet bundle; once a community of interests is formed, they are like grasshoppers on the same rope, making it hard to dismantle. From the birth of the White Paper in 2008 to the stablecoin legislation in 2024, the crypto industry took 16 years to achieve this critical breakthrough. When 3 billion people globally transfer money via blockchain every month, this technology has completed its popularization. Just as the internet opened up the landscape through email, cryptocurrencies are welcoming their killer application through stablecoins, marking a reduction in the cost of global cross-border payments by over 90%. When people find that falling in love with the dollar is faster and cheaper than bank transfers, the wheel of time cannot be turned back; after all, those who have used fiber optics will not return to the horse-drawn carriage era. #机构以太坊储备破1000万枚 #Circle推出稳定币区块链ARC #BTC ETF持仓破1530亿美元