Bipartisan support for the passing of the Guiding and Establishing National Innovation for US Stablecoins (Genius) Act represented the first time US Congress has enshrined major legislation regulating digital assets.
“The bill will cement US dollar dominance; it will protect customers, it will drive demand for US Treasuries,” asserted Bill Hagerty, the US senator promoting the act.
The new stablecoin law, however, presents plenty of potential risks for central banks in the areas of monetary
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