Diton believes that Circle and Ripple, which produce two of the three coins, will benefit from the new Genius Steabelcoins Law, which was recently signed by US President Donald Trump. USDC and RLUSD comply with the requirements of the law, which means they will receive direct benefits from the provisions of Genius, the lawyer suggested.
The broadcast has good prospects, since a wide range of stablecoins and decentralized financial applications has been created on the basis of the Ethereum blockchain. In addition, the co -founder of the Ethereum Joseph Lubin, together with the specializing in the development of market strategies, Fundstrat, seek to turn the etherium into a financial hub where the funds of the legal entities are received, Diton emphasized.
The lawyer recalled the announcement of Tether CEO Paolo Ardoino on the possible launch of new stablecoin in the United States. Ardoino said that Tether will receive the status of a foreign issuer of stabelcoins in the United States. This indicates the company’s interest in compliance with the Genius law.
The Genius law establishes the procedure for regulating stablecoins tied to the US dollar. The issuers of such stabiblcoins are required to provide their reserves in a ratio of one to one, whether it is money, treasury bills or other low -risk assets. Emitters should also receive federal licenses and regularly pass an independent audit. Only insured depository institutions, credit alliances and non -bank companies can produce stabiblcoins. All issuers are obliged to comply with the law on the banking secret of the United States, as well as the rules for the fight against money laundering and the financing of terrorism.
Earlier, Diton criticized banks that refuse to maintain cryptocurrency companies and traders. Such actions of banks threaten innovation and close the economic opportunities for the United States, the lawyer reasoned.
Source: Bits
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