Broker Canaccord said in a research note on Wednesday that the broader commitment of stablecoins whose value is related to another asset remains elusive due to regulatory uncertainty. this Genius Law It said that the U.S. Senate changed everything.
The full name of the legislation is Guide and establish national innovations against the US Stablecoins ActThe report said that the Senate support aimed at bringing Stablecoin innovation back to the U.S. is more difficult than the House of Representatives. Given the bipartisan support of the bill, U.S. Stablecoin legislation is almost here.
“Stablecoins represents a real layer of currency being added to the internet – essentially programmable,” Canaccord said.
“The promise of stablecoins may find cryptocurrency trading pairs on the horizon other than use cases,” wrote analysts led by Joseph Vafi.
Stable value binding Assets such as US dollar or gold. They play an important role in the cryptocurrency market and can be used, among other things, to pay for infrastructure and also to international currency transfers.
Canaccord believes Stablecoins “provides real productivity for the speed of money and the speed of corporate working capital balances.” Stablecoins allows transactions to be processed on the fly and is much cheaper than traditional routes.
Given that their requirements are fully supported, compliance stabilizers may become A large number of demand sources Canaccord said for short-term U.S. Treasury bonds.
“As its use spreads, stability that is consistent with genius may be the driving force behind the global economy,” the author wrote.
The report added that stable adoption will help advance the wider crypto industry.
Read more: Once the Genius Act is passed: Bernstein
