Genius Act Passed!! Heres Why Im Staying OUT of Crypto

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5G
There is no Law Requiring most Americans to Pay Federal Income Tax

  

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Summary

➡ The White House has declared America as the world’s crypto capital after signing the Genius Act. This act requires companies that issue stablecoins, like U.S.D.C. and U.S.D.T., to keep full reserves in safe assets, be transparent, and follow strict rules to protect consumers. This move aims to boost innovation and strengthen the U.S. dollar. However, some people are concerned about the risks and whether this secures U.S. leadership against global competitors.

Transcript

Hey everybody, economy ninja here hope doing well, got some good news out of the for crypto holders out of the White House as the White House has just announced. They’re calling the America, the crypto capital, the world after the Genius Act has been signed. Now, just, you know, I’m gonna go into it in a little bit in a second. I’m not buying any more crypto right now. I’ll tell you why in a sec. It says here the White House celebrated the move with a post declaring America is the crypto capital of the world featuring Trump in his MAGA hat and highlighting the gilding and establishing nation innovation for U.S.

Stablecoins Act. This first or this first federal framework now requires stablecoin issuers like those behind U.S.D.C. and U.S.D.T. to hold full reserves in safe assets, ensure transparency and follow strict rules, catch this, to protect consumers while boosting innovation and dollar dominance. That is very key right there. It says here while enthusiasts cheered amid Bitcoin’s near $89,000 price point and praise from figures like CFTC, Mike Slig, critics worry about issuer failure risks and whether it fully secures U.S. leadership against global rivals. Okay, so let’s unpack this here. First off, Trump and the White House is trying very hard to bring stability to the U.S.

dollar and one way they’re doing that is through the Genius Act forcing stablecoin companies to hold full reserves in assets outside of that stablecoin, meaning they want them to hold it in treasuries. There may be a gold component, we don’t know really, but I will say, and I do know that other companies like Tether were looking into doing gold. I think they did at one point or another, but I haven’t seen any official numbers as of right now, so I don’t know if it’ll affect the price of gold, but I can say that it will definitely affect the price of treasuries and this will actually cause, because of this mass buying of treasuries, because the stablecoins need to buy them to stay stable, they are going to drive down rates.

Now it’s going to happen overnight, but it will keep a downward pressure on rates and this is a multi-prong attack by the Trump administration to be able to bring these rates down, all kinds of different ways that they’re employing. Now another thing that I want to point out is that they said that they want to make sure that this ensures dollar dominance. You see, I think what’s happening here, and you’re gonna see this more and more in the news in the next few weeks or months, that America wants to really push their stablecoins on the rest of the world, thus lining up with dollar dominance, right? Because if the stablecoins are adopted all over the world, then that means all the transactions are happening, people are buying more of these stablecoins, means the stablecoin companies need more treasuries, it works out.

It’s almost becoming the petro stablecoin, okay? For lack of better terms. Now why am I not buying crypto right now? I still think that we can see some more downward pressure on cryptos. I can be wrong, but right now I’m a little over 50% in cash. I took my tax losses at the end of the year for my lost positions and I’m just still sitting in cash and it was tough when I saw it pop up this recently into what the mid 90s, but now we’re back into the high 80s.

I could hopefully we see mid 70s on pullback because then the altcoins are gonna be an amazing opportunity. Alright, with that being said, thank you so much for watching. The economic ninja is out. [tr:trw].

See more of The Economic Ninja on their Public Channel and the MPN The Economic Ninja channel.

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5G
There is no Law Requiring most Americans to Pay Federal Income Tax

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