Max Keiser: "US Stablecoin Regulation Bill Designed for Traditional Financial Sector"

JH Kim

Summary

Max Keiser stated that the stablecoin regulation bill (GENIUS Act) aims to protect the existing financial system and strengthen the dominance of fiat currency.
He explained that while stablecoins appear to be an entry point into the crypto market, their true focus is on increasing the usability of the US dollar.
Keiser pointed out that the bill is structured to prioritize the interests of traditional financial institutions, especially banks.

According to BeInCrypto, a cryptocurrency media outlet, on the 23rd (local time), Bitcoin (BTC) maximalist and the BTC strategic advisor of El Salvador, Max Keiser, claimed that "the US-led stablecoin regulatory bill (GENIUS Act) is largely intended to protect the existing financial system and strengthen the dominance of fiat currencies."

He pointed out that "although stablecoins are often seen as an entry point into the crypto market, in reality, they are designed to increase the usability of the US dollar and prioritize the interests of traditional financial institutions, particularly banks."

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