GENIUS Act: US Dollar's Digital Reign? The GENIUS Act, aiming to regulate US stablecoins, could strengthen the dollar's global digital dominance. However, the bill's future is uncertain after losing some Democratic support. #Stablecoins #USD #CryptoRegulation

GENIUS Act: US Dollar's Digital Dominance at Stake? The GENIUS Act, a US stablecoin bill, could solidify the US dollar's dominance in the digital economy by requiring stablecoins to be 1:1 backed by the dollar. While it passed a procedural Senate vote, the final outcome remains uncertain, especially after Democrats previously voiced concerns. If passed, it could influence global stablecoin regulations, potentially setting a precedent for other countries. But, will it actually happen? Stay tuned!