ChainCatcher news: Nick Tomaino, founder of 1confirmation, posted on the X platform stating that the GENIUS Act is very favorable to cryptocurrencies, and the market capitalization of stablecoins will rapidly grow by 10 times as a result. However, it might be better if the act is decided by market participants rather than politicians controlled by corporate donors. The U.S. Congress agrees that stablecoins are beneficial to the U.S., and the best metric to measure the success of this act is the total market capitalization of stablecoins. Anyone can spend money effectively, and the market decides the best way to achieve the goal.

ChainCatcher news: Nick Tomaino, founder of 1confirmation, posted on the X platform stating that the GENIUS Act is very favorable for cryptocurrencies, and the market cap of stablecoins will rapidly grow by 10 times as a result. However, it could be better if the act is decided by market participants rather than politicians influenced by corporate donors. The U.S. Congress agrees that stablecoins are beneficial for the United States, and the best metric to measure the success of this act is the total market capitalization of stablecoins. Anyone can spend money wisely, and the market will determine the best approach to achieve the goals.

1confirmation Founder: Stablecoin Market Cap Will Grow 10 Times Due to GENIUS Act Approval