Wall Street Skeptical: GENIUS Act Unlikely to Shake Dollar or T-Bill Markets

Wall Street's verdict is in—and it's a shrug. The much-hyped GENIUS Act, designed to modernize financial infrastructure, faces a chorus of skepticism from the very institutions it aims to influence.

Why the Doubt?

Analysts point to the sheer scale and inertia of traditional currency and debt markets. The U.S. dollar's global reserve status and the Treasury market's depth create a moat that even innovative legislation struggles to cross overnight. The consensus? Regulatory tweaks rarely trigger immediate capital flight on that magnitude.

A Nod to the Future, Not a Revolution

While the act acknowledges the growing digitization of finance, its direct mechanisms are seen as more evolutionary than revolutionary for legacy systems. It's a framework, not a sledgehammer.

The Real Signal for Crypto

For digital asset advocates, the muted reaction speaks volumes. It underscores a core bullish thesis: true disruption won't come from patching old systems, but from building parallel ones. Every legislative step that legitimizes digital finance, however incremental, chips away at the old guard's dominance. The smart money isn't watching for a Treasury sell-off; it's watching for the slow, steady bleed of relevance—and that's a trend no act can easily reverse. After all, on Wall Street, the most profound shifts often start with a whisper, not a bang. Just ask anyone who bought Bitcoin before the suits took notice.

While the passage of the United States’ first federal stablecoin law has opened a new chapter for digital assets, it has also highlighted disagreements on Wall Street. Major institutions are now debating whether the GENIUS Act will strengthen demand for the U.S.

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