Trump and the ജീനിയസ് Act🤔

📰 What’s New?

On June 17, 2025 — the U.S. Senate passed the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) with a 68–30 vote 🔥

It’s America’s first federal law regulating stablecoins.

Trump is now pushing the House to pass it immediately and without any modifications. Treasury Secretary Scott Bessent also supports the move, saying stablecoins could reach $2 trillion in market cap, making the U.S. the global leader in digital money.

Meanwhile, companies like Amazon, Walmart, and Bank of America are already working behind the scenes to launch their own stablecoins! 😳

🚨 Why It Matters

✅ For Stablecoins:

• Stablecoins like USDC and PayPal’s PYUSD get official regulatory approval

• Circle’s stock jumped 170% after this news

• Tether (USDT) may struggle to meet U.S. rules and lose market share

✅ For Traditional Banks:

• Banks like JPMorgan, Wells Fargo, and BofA can now legally issue stablecoins

• A clear framework finally allows bank-backed digital coins

❌ For Big Tech:

• Companies like Amazon can’t launch coins freely — they’ll need approval from the Treasury, Federal Reserve, and FDIC

• This prevents tech companies from dominating the financial sector unchecked

✅ For U.S. Dollar Supremacy:

• Most stablecoins are dollar-based — if this act passes, U.S.-backed stablecoins could dominate digital finance globally

• It also challenges China’s digital yuan by promoting private U.S. stablecoins instead of government CBDCs

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⏭️ What’s Coming Next?

🏛️ House Vote Looks Very Likely:

• Less than 50 days left before the House recess in August

• With Trump’s pressure and Republican control, the bill is expected to pass soon

📈 Huge Market Growth Expected:

• Current stablecoin market cap = $228 billion

• Treasury forecasts: $2 trillion by 2028

• Monthly stablecoin volume may rise from $700B to $6 trillion, 10% of global forex

🏦 The Bank Coin Race Begins:

• Banks are expected to launch their own stablecoins by early 2027

• The law gives an 18-month window to implement the framework

🌎 Global Regulatory Pressure:

• India, EU, Japan — all eyes on U.S.

• Experts urge India to create a similar law to stay competitive

🏢 What Are Big Companies Doing?

👿 Opposition

• Elizabeth Warren criticized the bill, saying it helps Trump’s allies

• But the bill had bipartisan support — 18 Democrats voted for it

📅 Timeline

• ✅ Senate passed it on June 17

• 🟡 House vote expected by August

• ⏳ 18-month rollout plan

• ⚠️ 3-year grace period to ban unlicensed coins

💰 Trump’s Own Stablecoin?

• Company: World Liberty Financial

• Coin: USD1, backed by U.S. Treasuries

• Major deal: UAE investor used USD1 to invest $2 billion in Binance

🧠 Crypto Mafia Summary:

🧾 Key Bill Details:

• Title: GENIUS Act

• Passed Senate: June 17, 2025

• Sponsors: Hagerty, Tim Scott, Cynthia Lummis

• Status: Waiting for House approval

🛡️ What the Bill Requires:

• Only licensed banks, certified nonbanks, or state-licensed firms can issue stablecoins

• Must maintain 1:1 reserve backing with cash or high-quality assets

• Anti-money laundering programs and compliance with the Bank Secrecy Act required

• Consumer protection during bankruptcies

• Big Tech companies need triple approval to launch coins

💬 Trump’s Post:

🏦 Treasury Secretary Bessent: