Banks are using the GENIUS Act to reshape the stablecoin market: Banks want control of the stablecoin market, starting with USDC and circling Tether.
GENIUS Act is now U.S. law: 1:1 reserves, monthly disclosures, and a ban on issuer-paid yield. Here’s how it reshapes stablecoins, USDC’s U.S. edge, and Tether’s 2028 deadline.