Understand the timeline and impact of the "GENIUS Act" in one article, DeFi and stablecoin concept coins have taken the lead in rally! 【Timeline】 1⃣ Tonight, the U.S. Senate voted; 2⃣ If the Senate votes successfully, it will be considered by the House of Representatives. The House of Representatives has a low threshold for passage, and the possibility of passage is very high; 3⃣ The president signed it and it became law. 【Core Concerns of the Act】 1⃣ All stablecoins must be fully backed by highly liquid assets such as US dollars or US Treasuries to ensure their value stability. 2⃣ Tech Company Restrictions. RESTRICTING THE ISSUANCE OF STABLECOINS BY LARGE NON-FINTECH COMPANIES SUCH AS TESLA, META, AMAZON, GOOGLE, AND MICROSOFT IS NOT IMPOSSIBLE, AND THE REQUIREMENTS ARE EVEN HIGHER. The starting point is to control the right to issue coins in the traditional financial system. 3⃣ Game Focus: The bill may be good for the future of the U.S. government, will the Democrats let this bill pass during Trump's term? 【Impact of the Act】 1⃣ Tether, which is not the underlying asset of US dollars and US bonds, is facing the challenge of adjusting its balance sheet. 2⃣ The increase in the issuance of stablecoins backed by the United States will greatly stimulate the liquidity of financial markets to enter the crypto market. 【Market Impact】 @hellosuoha: Good for stablecoin concept coins, such as AAVE (+22%), ENA (6%), USUAL (+5%), FXS (14%), LQTY (13%), CRV (2%). Note: DeFi tokens are currently leading the market, with the market capitalization of the entire sector exceeding $115 billion, led by AAVE. #AAVE #稳定币 #GENIUS #BTC