The GENIUS Act: Shaping Crypto Payroll and Stablecoin Regulation
The GENIUS Act has been enacted and it’s a major change for how crypto operates in this country and beyond. This thing has some teeth, and the implications for crypto payroll solutions and stablecoin adoption are pretty big. Let’s get into it.
What Will Change for Stablecoins? USD vs USDC
The GENIUS Act is a game changer for stablecoins, requiring a 1:1 reserve backing and switching regulators from the SEC to bank-centered ones like the Federal Reserve and FDIC. This aims to boost stability and consumer protection but imposes stricter rules on stablecoin issuers. Essentially, U.S.-issued stablecoins must now meet heavy reserve and transparency requirements, probably impacting liquidity in DeFi protocols linked to these compliant…
