Bernstein: Once the GENIUS Act takes effect, stablecoins will become the cash layer of the Internet

Odaily Planet Daily News Bernstein said that the US stablecoin regulatory bill GENIUS Act is likely to be passed into law in the next few months. Once the bill is passed, stablecoins are expected to develop into the Internet's monetary track and become the Internet cash layer. Bernstein said that the GENIUS Act prohibits non-financial listed companies from becoming stablecoin issuers, but there have been recent reports that Amazon and Walmart are exploring the use of these cryptocurrencies. If e-commerce and technology platforms want to adopt these cryptocurrencies, they may have to cooperate with regulated US issuers instead of issuing their own stablecoins. (CoinDesk)