#wct#WallterConnect #WCT @WalletConnect Family, the US 'GENIUS Act' has officially come into effect, bringing about a major transformation in the cryptocurrency market! The act stipulates that stablecoins must be pegged to the US dollar or short-term US Treasury bonds on a 1:1 basis, prohibits interest-bearing assets, and requires that issuers be licensed entities. Reserve assets can only include cash, demand deposits, and highly liquid assets such as US Treasury bonds maturing within 93 days, and they must also be audited and disclosed monthly. Its implementation can reduce the risk of bank runs and financial risks, and it paves the way for the integration of traditional finance and blockchain. The cryptocurrency market is likely to experience significant waves in the future. What do you think?