Bernstein: Once the GENIUS Act takes effect, the stable currency will become the Internet cash layer

Odaily Planet Daily News Bernstein said that the GENIUS Act, the US stable currency regulation bill, is likely to be passed into law in the next few months. Once the bill is passed, the stable currency is expected to develop into the monetary track of the Internet and become the Internet cash layer. Bernstein said that the GENIUS Act prohibits non-financial listed companies from becoming stable currency issuers, but it was recently reported that Amazon and Wal Mart are exploring the use of these cryptocurrencies. If e-commerce and technology platforms want to use these cryptocurrencies, they may have to cooperate with regulated U.S. issuers instead of issuing their own stable currencies. （CoinDesk）