🇺🇸 The U.S. just passed its first major crypto law: the GENIUS Act. DeFi is stepping into the spotlight. Let's breakdown the reserves, redemptions, & AML compliance stablecoins face 🧵
Huge moment for crypto. Huge moment for updating the financial system. The GENIUS Act is now law.
The GENIUS Act requires stablecoins to: 💵 Hold 1:1 reserves in cash or equivalents 🔁 Honor instant redemptions 🕵️‍♂️ Comply with AML + transparency standards It’s the first federal acknowledgment that stablecoins = real financial rails.
Now, the CLARITY Act is in motion, shifting oversight from the SEC to the CFTC. Why it matters? The regulator defines the rules. And the rules define who can play.
6.64K
119
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.