Viewpoint: The US Stablecoins Act Cannot Save the US Debt Crisis "(by GMF Research) This article focuses on the GENIUS Stablecoins Act in the United States, introducing the definition, types, and relationship between off chain collateralized stablecoins and US bonds. It points out that the current scale of stablecoins is small and only holds ultra short term US bonds, which has limited effect on stabilizing US bond selling pressure.