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A New Form Of Money That Will Disrupt Banking
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The U.S. Senate passed the GENIUS Act… Stablecoins are a new form of money… The biggest change to the global monetary system since Bretton Woods… There will be no reason to ever use a bank again… Central banks are cutting rates… |
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Well, that escalated quickly.
Yesterday the U.S. Senate passed the Guiding And Establishing National Innovation For U.S. Stablecoins Act of 2025 – aka, the GENIUS Act.
That happened a lot faster than I expected. I hope you’re paying attention…
As I outlined on Monday, this legislation enables the most important changes to the global monetary system since the Bretton Woods agreement following World War II.
In short, this legislation enables the creation of virtually unlimited new forms of money, as it carves out a new legal framework for stable–coins.
Specifically, the GENIUS Act defines a “payment stablecoin” as a digital asset designed for use as a means of payment or settlement, pegged to a fixed monetary value (typically the U.S. dollar), and backed by fiat currency or high-quality liquid assets on a 1:1 basis.
This law explicitly states that payment stablecoins are not securities, commodities, or investment company products under federal law.