Bitwise: The impact of the GENIUS Act is comparable to that of BTC spot ETFs

According to Golden Finance, Bitwise Chief Investment Officer Matt Hougan stated that on Monday, the US Senate passed the final debate on the GENIUS Act with 66 votes in favor and 32 votes against, with 16 Democratic lawmakers crossing party lines and voting in favor. This bill provides a solid regulatory framework for stablecoins in the United States. Apart from the Bitcoin spot ETF approved in January 2024, this is the most significant regulatory development in the history of cryptocurrency, and may even be more important. I believe this has laid the foundation for the long-term and sustained rise of cryptocurrency assets outside of Bitcoin. The biggest beneficiaries are Ethereum (ETH), Solana (SOL), and various decentralized financial (DeFi) assets such as Uniswap (UNI) and Aave (AAVE).