Trump’s Genius Act could spark global turmoil
Crypto assets provide a leveraged exposure to “risk-on” or “risk-off” environments. At the moment it is definitely a risk-off environment.
That’s why the administration’s desire to make the US the centre of the crypto universe and bring it into the mainstream of US finance is open to debate. It has made the Trump family, and some of Trump’s cabinet members, far wealthier, but are there risks associated with their ambition?
Bank of Japan governor Kazuo Ueda’s comments sparked the latest crypto plunge.Credit: Bloomberg
The Genius Act provided a legislative framework for stablecoins – digital tokens, normally with a price fixed at $US1, that are backed with stable and liquid assets that enable them to maintain their…
