Interesting.
Here's my interpretation.
I knew that before Trump's second term, crypto was heavily regulated.
After Trump, his leadership relaxed a lot of the regulations.
But even with him at the helm, the new GENIUS Act actually reintroduces some regulations, particularly, previously, briefly during Trump's second term, stablecoins were no longer classed as a security, but with the new GENIUS Act, stablecoin issuers are now required to follow a lot more rules.
But that's my interpretation of the chain of events.
Bear in mind, the reason why I want something like the GENIUS Act to come to Canada is because the current regulatory framework in Canada puts less faith in stablecoins on Canadian-based companies. There really needs to be a tight leash on Canadian companies who issue stablecoins. The GENIUS Act is strict, in the event of the issuer going belly up.
Had Canada had its own GENIUS Act, I'd probably feel a lot more confident.
