Stablecoins, Digitized Bank Deposits, and Future Banking Risk?

Stablecoins, Digitized Bank Deposits, and Future Banking Risk?

The GENIUS Act defines a payment stablecoin as a digital asset that trades on a public distributed ledger that is designed to facilitate payment. It must be redeemable for currency but is explicitly&n

Why stablecoins are Silicon Valley's Pandora's box

Silicon Valley (via Alamy/ HAPGB1)President Trump’s signing of the GENIUS Stablecoin Act marks a chapter in an ancient storyline—the eternal tension between progress and order. Pandora's jar—mistranslated as a box—came with strict instructions never to open it. Stablecoins also arrive with promises and prohibitions.The warnings are mounting about the Pandora's box of problems that stablecoins will unleash. The economist Barry Eichengreen, one of…

Stablecoin Revolution: Recasting Global Finance

A few weeks ago, President Donald Trump signed the GENIUS Act into law. The acronym stands for Guiding and Establishing National Innovation for US Stablecoins. It is the first major crypto legislation approved by the US Congress and sets the stage for the formal adoption of stablecoins and their regulation. Unlike bitcoins, stablecoins are fully […] The post Stablecoin Revolution: Recasting Global Finance appeared first on StratNews Global.