The $393 billion crypto craze that could one day threaten banks
Trump this year gave the sector a shot in the arm, with July’s GENIUS Act, which created a regulatory system for stablecoins, ensuring reserve requirements and subjecting issuers to anti-money laundering rules. Trump, who’s made plenty of money from crypto, said at the time the bill would make America “the UNDISPUTED Leader in Digital Assets – Nobody will do it better, it is pure GENIUS!“.
But it’s not just Trump: Europe, Hong Kong and Singapore have also announced or implemented plans to regulate the sector, and Australia is working up its own crypto regulations.
Today, stablecoins are mostly used when people who are trading crypto assets want to settle in traditional money – which hardly sounds like a game-changer to most…
