
Kevin|Jun 05, 2025 02:40
GENIUS Act is a strategic compromise of 'retreat as progress'
The GENIUS Act does not reflect a conventional regulatory action, but rather a strategic proactive compromise of "retreat as progress". The essence of this compromise lies in the fact that the United States has a clear understanding of the paradigm shift in monetary governance triggered by Crypto, and has begun to attempt to use institutional design to achieve a "leverage" for future financial infrastructure. The widespread distribution of US dollar assets in the Crypto system makes it impossible for the United States to block its development through a single piece of regulation, but instead requires institutional "inclusive regulation" to ensure that US dollar assets will not be marginalized in the next stage of on chain currency competition.
The strategic significance of the GENIUS Act lies precisely in the fact that it no longer focuses on "suppression" as its main purpose, but rather brings the development of US dollar stablecoins back into the federal vision by building a predictable compliance framework. If the signal of accepting Crypto's financial logic is not actively released, it may be forced to accept a non dollar dominated on chain financial system. Once the US dollar loses its anchor asset position in the on chain world, its global clearing and financial instrument output capabilities will also decline accordingly. Therefore, this is not out of open goodwill, but out of the need to defend monetary sovereignty.
The GENIUS Act cannot be simply classified as an acceptance or tolerance of Crypto. It is more like a "tactical retreat" of sovereign currency under a new paradigm, aimed at reorganizing resources and re anchoring the power structure of on chain currency.
Crypto brings not only a new market or asset class, but also a fundamental challenge to financial control logic and value empowerment methods. In this process, the United States did not choose to collide head-on or enforce regulation, but made a trade-off through the GENIUS Act - sacrificing direct control over the edge of cryptocurrency assets in exchange for legitimate empowerment of stablecoin dollar assets; Transfer some of the on chain order construction rights in exchange for the continuation of anchoring rights to core assets.
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