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The "ChatGPT Moment" of Crypto Assets: How Much Impact Does It Have on Banks?
[Plain language introduction] The "GENIUS Act" is about to become law, marking the "ChatGPT moment" for stablecoins, bringing legitimacy and regulatory clarity to a $260 billion market.
The new law requires 1:1 backing with dollar assets, prohibits interest payments, strengthens anti-money laundering and auditing, and disrupts banks and Visa/MasterCard. Tether and USDC will compete in the US market, while fintech companies such as Paypal and Stripe may become the winners.
Stablecoins will reshape payments, e-commerce, and salary systems, enhancing the global dominance of the dollar, with Tether more likely to become a new buyer of U.S. debt. In terms of investment, ETH, SOL, and Ethena have potential, as a financial system transformation is imminent!
For details, please see 👉: