[MorTech]

The bill goes to Trump tomorrow and will be signed into law.

Stablecoin will boost demand for US Treasuries and anyone on Earth with internet access can participate. USD demand will boom whilst City of London cries. This is a good thing.

[CoachKandSportsguy]

Originally Posted by MorTech

The bill goes to Trump tomorrow and will be signed into law.

Stablecoin will boost demand for US Treasuries and anyone on Earth with internet access can participate. USD demand will boom whilst City of London cries. This is a good thing.

Shadow SEC Statement No. 6: The Not-So-GENIUS Act | CLS Blue Sky Blog


Fourth, the exemptions in the bill are far too generous. The omission of an audit requirement for issuers of up to $50 billion is in striking contrast to how even small banks are regulated. Audits are fundamental and should not be optional for any but the smallest financial firms.

Geez, just think about TVH, should they have gotten an audit to be found overcoming and reaping lots of extra fees?
crypto is just a currency with designed for secrecy, ideal for illegal activities.

definitely shades of 476AD

not participating

[Taltarzac725]

Looks like a mess waiting to happen. And we are going to need some very big buckets.

[MorTech]

XRP, USDT, USDC, and others are going to obsolete City of London Forex monopoly whilst also boosting demand for USD/US treasuries. Finally, USD can be a true world reserve currency whilst the British Pound takes a pounding. Why does one GBP cost $1.34? Forex.

[Whatnext]

Originally Posted by MorTech

Why does one GBP cost $1.34? Forex.

Why only .86 Euro to USD?
Maybe some genius is to blame.

[Maker]

One step closer to a totally cashless society. Then every transaction can be taxed. Question is - when will that happen, and to what level will the government track?

[Pugchief]

Originally Posted by Maker

to what level will the government track?

LOL, that's the whole reason, so they can track EVERYTHING.

[MorTech]

We have been 90% cashless for more than a decade. Most USD "cash" is overseas.

CBDC is just not going to happen in the USA. It is unconstitutional and more importantly, the commercial banks will never allow it.

Pax Americana, baby!

[HappyTraveler]

Originally Posted by MorTech

We have been 90% cashless for more than a decade. Most USD "cash" is overseas.

CBDC is just not going to happen in the USA. It is unconstitutional and more importantly, the commercial banks will never allow it.

Pax Americana, baby!

I'll take your wager on that. Only a matter of time until CBDCs replace cash money.
Central Bank Digital Currency Tracker - Atlantic Council

Click on each country to read descriptive text. They're not doing all that for kicks and giggles.

[Dahabs]

Originally Posted by MorTech

The bill goes to Trump tomorrow and will be signed into law.

Stablecoin will boost demand for US Treasuries and anyone on Earth with internet access can participate. USD demand will boom whilst City of London cries. This is a good thing.

You hope. You wish. Other forces at play (massive government debt) that will drag the dollar down. Not to mention 10Y Treasuries.

[RICH1]

Crypto is Illegal in China!

[danglanzsr]

As I understand it, there are currently about 20million bitcoins outstanding out of a maximum 21 million. If the currently value of a bitcoin is, say $100,000, that would mean the total value of outstanding bitcoin is about 2 trillion dollars. Is there actually 2 trillion dollars on deposit somewhere to redeem all the bitcoin in a crisis? It seems to me any asset could only be called a stable asset if it is fully backed up.

Just wondering.

[MorTech]

Stablecoin is different than Bitcoin. Stablecoins are backed 1:1 with USD/UST. Everyone on Earth can own them and "Bank" in the USA. A one world currency (USD) and one world language (English) will make the world explode into prosperity. Pax Americana.

Our $37T debt is just not that bad with our natural and human resources in a $1000T global economy...This is the USA and not some third-world dump like Europe/UK/Africa.

Bitcoin is a digital capital asset...Like gold and real estate.

[Marmaduke]

Originally Posted by Taltarzac725

Looks like a mess waiting to happen. And we are going to need some very big buckets.

"Genius Act" passed and was overwhelmingly bi-partisan!

[Worldseries27]

I'm just along for the ride. A long time ago someone said figures don't lie, but liars know how to figure.
Think it was moses.