Hold onto your hats, crypto enthusiasts, because the GENIUS Act is about to shake things up in the world of stablecoins! This new law, also known as “Guiding and Establishing National Innovation for US Stablecoins,” is set to bring some serious changes to the crypto game. And guess what? Pi Network is about to reap the benefits!
Dr. Altcoin, the resident crypto genius, explains how the GENIUS Act could boost USD1, a stablecoin created by World Liberty Financial. Backed one-to-one with the US dollar and supported by assets like cash and US Treasuries, USD1 has already been listed on major centralized exchanges like MEXC, where it’s paired with Pi, Bitcoin, Ethereum, and other major cryptocurrencies. 🤑
But wait, there’s more! The GENIUS Act has some strict requirements, like banning unbacked algorithmic stablecoins, demanding one-to-one reserve backing, monthly public reserve updates, and yearly audits. It also limits big tech companies from launching their own stablecoins unless they follow all the rules. Plus, the bill allows for freezing or burning tokens for national security reasons. Talk about a power move! 💪
For Pi Network, this is a golden opportunity. The new PI/USD1 trading pair means Pi users now have access to a more stable, regulated, and trustworthy trading environment. This helps with accurate price discovery, better liquidity, and makes Pi more attractive to institutional investors. 💸
As USD1 gains popularity and gets listed on more exchanges, Pi Network could see increased attention and use. The GENIUS Act is not just about setting rules. It’s about building a stable and compliant future for crypto. With strong support and a growing ecosystem, Pi Network and USD1 may be at the center of the next wave of crypto adoption. 🌊
But let’s not forget, Pi Network has dropped 23% over the past month and is now trading at around $0.4399. The price has been moving sideways, staying in the $0.40 to $0.50 range as selling pressure continues to build due to unlocked token supply. 📉
For Pi to see a strong upward move, it needs to break above the $0.80 level. Until then, any small bounce from the current zone is likely to face resistance and lead to more price pressure. 😒
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2025-07-17 08:52