Understand the timeline and impact of the "GENIUS Act" in one article, with DeFi and stablecoin concept tokens leading the rally! [Timeline] 1⃣ Tonight, the U.S. Senate votes; 2⃣ If the Senate vote is successful, it will be submitted to the House of Representatives for review. The threshold for passing in the House is relatively low, making it highly likely to pass; 3⃣ The President signs it into law. [Key Focus of the Act] 1⃣ All stablecoins must be fully backed by highly liquid assets such as the U.S. dollar or U.S. Treasury bonds to ensure their value stability. 2⃣ Restrictions on tech companies. Restrictions on large non-financial tech companies like Tesla, META, Amazon, Google, and Microsoft from issuing stablecoins are not impossible, but the requirements are higher. The starting point may be to keep the right to issue currency within the traditional financial system. 3⃣ Focus of the game: The act may benefit the future of the U.S. government (debt reduction). Will the Democratic Party allow this act to pass during Trump's term? [Impact of the Act] 1⃣ Tether and others that use non-U.S. dollar or non-U.S. Treasury bonds as underlying assets face the challenge of adjusting their balance sheets. 2⃣ The increase in the issuance of stablecoins supported by the U.S. will greatly stimulate the liquidity of financial markets entering the Crypto market. [Market Impact] @hellosuoha: Positive for stablecoin concept tokens, such as AAVE (+22%), ENA (6%), USUAL (+5%), FXS (14%), LQTY (13%), CRV (2%). Note: Currently, DeFi tokens are leading the market, with the entire sector's market cap surpassing $115 billion, led by AAVE. #AAVE #Stablecoin #GENIUS #BTC