RE: Did the USA just make algorithmic stable coins illegal?
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This is a very informative breakdown! The GENIUS Act seems to take a cautious approach rather than a direct ban. While it's not an outright prohibition, the 1:1 traditional asset requirement certainly makes it nearly impossible for algorithmic stablecoins like HBD to qualify as payment stablecoins under this law. I wonder how decentralized communities and projects will adapt to these evolving regulations. Thanks for sharing this valuable insight!
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I agree with you.
I was very pleased at the cautious and wise approach the GENIUS act takes towards stablecoins. It shows an attitudinal change towards fairness and promotion of innovation which is new and refreshing.
Absolutely! It’s encouraging to see a regulatory framework that balances caution with openness to innovation. Let’s hope this sets a precedent for more fair and forward-thinking policies in the crypto space. Thanks again for the discussion!
Very true