
Kay Capital|Jun 25, 2025 16:20
Perhaps in thirty years, textbooks will write: The stablecoin GENIUS bill marks another anchor change for the US dollar after anchoring to gold and oil settlements.
Instead, anchor the fiat currency substitution of the "Banana Republic" with poorer currency discipline and grey industry settlement on a global scale.
The US dollar cash has such functions, but it is still quite easy to disable. As long as it is stuck on the bank and foreign exchange control side, the headache for merchants is to identify counterfeit currency, which limits its use.
The combination of blockchain and stablecoins ensures that genuine coins can be guaranteed without substantial foreign exchange controls (except in some large government countries), and cannot be disabled/stopped.
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