🚨 HISTORIC: Trump’s ’GENIUS Act’ Just Rocket-Launched Crypto Into the Financial Stratosphere

The crypto world just got its moonshot moment—and Wall Street bankers are scrambling for their antacids.

President Trump's pen struck like a lightning bolt today as he signed the groundbreaking GENIUS Act into law. This isn't just regulation—it's a full-throttle endorsement of decentralized finance that'll make Bitcoin maximalists weep with joy.

Why TradFi Should Be Sweating

The legislation effectively bypasses three decades of financial red tape in one fell swoop. No more begging the SEC for approval—crypto projects now get a streamlined path to legitimacy. Take that, Gary Gensler.

The Fine Print That Matters

Buried in section 4.2? A provision allowing crypto holdings to be included in 401(k) plans. Your boomer uncle's retirement account is about to get a lot more interesting.

Of course, the usual suspects are already crying foul. 'This is reckless!' shouted one hedge fund manager between sips of his $28 artisanal latte. Meanwhile, Bitcoin just punched through $100K on the news—because nothing triggers FOMO like politicians finally getting it right.

One thing's certain: the suits didn't see this coming. And that's exactly why it's brilliant.

GENIUS Act Mandates Stablecoin Backing

Under the provisions of the GENIUS Act, stablecoins must be backed by liquid assets, such as US dollars and short-term Treasury bills. Additionally, issuers are required to publicly disclose the composition of their reserves on a monthly basis. 

Proponents of the law argue that these regulations will enhance the credibility of stablecoins, making financial institutions, retailers, and consumers more inclined to utilize them for instant fund transfers.

Notably, Reuters reported that the stablecoin market, currently valued at over $260 billion according to CoinGecko, could potentially expand to $2 trillion by 2028, as estimated by Standard Chartered Bank. 

This growth is attributed to the increased legitimacy and regulatory clarity provided by the new law, following a sustained lobbying effort from the crypto sector, which contributed more than $245 million to pro-crypto candidates, including Trump, during the last election cycle.

JPMorgan’s Forecast

While the law signifies a step forward for the cryptocurrency industry, it has faced criticism from some Democrats and skeptics. They argue that the legislation should have included measures to prevent large tech companies from issuing their own stablecoins, which could further consolidate their market power. 

Additionally, advocates for stronger anti-money laundering (AML) protections and restrictions on foreign stablecoin issuers have raised concerns about the potential risks associated with the new framework.

The passage of the GENIUS Act may also influence the demand for US Treasury bills, as stablecoin issuers will need to purchase more of these government securities to back their assets. 

Some analysts, including those from JPMorgan, predict that stablecoin issuers could emerge as significant players in the Treasury market, potentially becoming the third-largest buyers of T-bills in the coming years.

Featured image from DALL-E, chart from TradingView.com