The Congress of the Code of Genius enacted in the US encryption industry
“The competition will be fierce,” says Cryptoeconomics Mit and Cocarator of Diem, the founder of the CryptoConomics Mit and Cocarator of Diem, the founder of the Stablecoin project now provided by Meta. “You will see many other exporters enter the market and compete. Many of these exporters will be more traditional banks and technologies.”
Crypto defenders argue that Stablecoins increases US dollar as a global reserve currency by increasing demand in developing countries with unstable economies and allowing the United States to borrow cheaper juice for government bonds. “You can’t have better innovation for Greenback on a white board,” says Crypto VC Coinfund.
However, if a stablecoin reproduction is not in the absence of proper monitoring, a stablecoin reproduction can destabilize the financial system. For example, if a large exporter mismanages a stablecoin reserve, leads to the collapse of the coin value and the potential implementation of other boards, the value of US government bonds can collapse because exporters will have to pay their reserve assets to cover the redemptions potentially.
“I am very cautious to integrate privately exported currencies into the financial system. Below, this is what it shows,” says Jacob Silverman. Easy Money: Cryptocurrency, Casino Capitalism and Golden AgeHuman
Another common protest over the law of genius is the lack of any regulations that make Trump and his family profit from their own profit.
In May, World Liberty Financial announced that Stablecoin USD1 is used by the MGX Investment Company, provided by the United Arab Emirates, to invest a $ 2 billion in Binance, the world’s largest cryptography exchange. The Trump -affiliated company could earn tens of millions of dollars in the deal, which has complained among critics claiming the deal was “foreign policy for sale”.
Silverman claims: “With the adoption of genius, politicians are blessed by President Trump’s corruption.” “We want to protect consumers but don’t think [crypto] It must be more legitimized in the United States until the situation is resolved by Trump’s encryption and the Republican Party. “
The White House did not respond to the request.
However, when the parliament voted on Thursday, even lawmakers who had previously protested Trump’s encryption – among them Sam Likcardo, Congress, a Democrat that introduced laws in February, means preventing some of their cryptocurrencies from making profitability.
“Whether there is a congressional confirmation seal, it is obvious that the MemeCoin Trump and now the Stablecoin plan is illegal to worry that people may have,” says Liccardo. “Even if we obtained exactly the language we wanted to obtain for Trump’s ban, we have no justice ministry to prosecute the president or anyone around him because of the violation of that law,” he added.
The Ministry of Justice also did not respond to the request.
Although the genius law may be incomplete, the urgent need to strengthen the market “Wild West” Stablecoin has been called to compromise. “If we don’t leave anything, we continue to continue to uncertainty about who can set up and how it is,” he explains. “I don’t know that I don’t want to make a good enemy.”
