Interview | WAX and Tether co-founder on the impact of the GENIUS Act on the tokenization of the global financial markets

Impact of the GENIUS Act: The GENIUS Act, signed by President Trump, regulates USD-backed stablecoins and establishes oversight rules that may reshape global finance, allowing foreign issuers like Tether to operate under strict conditions while not mandating blockchain technology for stablecoin issuance.

Challenges and Opportunities: While the Act could lead to increased corporate exploration of stablecoin issuance, it may slow the tokenization of the financial system due to complex tax implications and the lack of mandatory blockchain use, potentially hindering the efficiency of stablecoins in global payments.