
Jakarta, Pintu News â The GENIUS Act, known as the âGuiding and Establishing National Innovation for US Stablecoins,â is expected to bring about major changes in the crypto world.
Once passed, the new law will introduce the first official rules for stablecoins in the United States. The main focus is to make stablecoins more secure, transparent and widely accepted in the financial system.
The GENIUS Act includes strict requirements that will change the way stablecoins are operated in the United States.
Read also: Pi Network Price Crashing Toward Record Low â Is a Major Rebound Coming?
The law bans unsupported algorithmic stablecoins, demanding one-to-one reserve backing, monthly public reserve updates, and annual audits. It also restricts large tech companies from launching their own stablecoins unless they follow all the rules.
With this requirement in place, stablecoins like USD1 created by World Liberty Financial, which is backed one-to-one with the US dollar and backed by assets like cash and US Treasuries, will benefit.
USD1 has been listed on major exchanges such as MEXC, where it is paired with Pi Network, Bitcoin , Ethereum , and other major cryptocurrencies.
For Pi Network, the existence of the new trading pair PI/USD1 is a great opportunity. This pair gives Pi users access to a more stable, organized and trustworthy trading environment.
This helps in accurate price discovery, better liquidity, and makes Pi more attractive to institutional investors. As USD1 increases in popularity and listings on more exchanges, Pi Network could see increased attention and usage.
The GENIUS Act is not just about setting rules, but about building a stable and compliant future for crypto. With strong support and a growing ecosystem, Pi Network and USD1 may be at the center of the next wave of crypto adoption.
Read also: PayPal Launches PYUSD Stablecoin on Arbitrum Network with $100,000 Weekly Limit!
Pi Network has seen a 23% decline over the last month and is now trading around $0.4399. The price has flattened out, remaining in the $0.40 to $0.50 range as selling pressure continues to build due to the unlocked supply of tokens.
To see a strong upside movement, Pi needs to break above the $0.80 level. Until that happens, any minor bounce from the current zone is likely to face resistance and cause more price pressure.
Overall, with the enactment of the GENIUS Act, Pi Network and USD1 have the potential to become key players in the evolution of the crypto market.
The stability and compliance offered by this new law could help push the price of Pi Network to higher levels, perhaps even beyond $1.
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*Disclaimer
This content aims to enrich readersâ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an assetâs past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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