The GENIUS Act represents a significant shift in the financial environment in the US, aimed at reducing bank monopolies and improving access to the dollar.
Nature of the GENIUS Act
The GENIUS Act does not rid of government control over money and does not make Bitcoin tax-free. However, it breaks the monopoly of powerful banks on access to clean dollars, complicating how that money is used and whether it aligns with political agendas.
The Crypto Dream and Nightmare
The transition from traditional finance to cryptocurrencies has created both a dream of a more accessible financial system and a fear of losing financial freedom. Bitcoin must remain decentralized to avoid being co-opted by banks and regulators.
Consequences and Future of Financial Control
The GENIUS Act could mark a turning point in the fight against US financial imperialism, providing more access to dollars and cryptocurrencies. However, the current situation remains unstable and dependent on future political changes.
The GENIUS Act lays the foundation for redistributing financial power and accessibility, but its impact on control will rely on future political decisions.
