It's official! To the fucking moon bros, and great work Brad on getting this legislation in!

>>60645432 (OP)
so what is this Genius Act Bill? what it does?

>>60645432 (OP)
Doesn't this bill kill tether, and by extension kill bitcoin as well...

>>60645487
why would it kill tether, a stablecoin?

>>60645432 (OP)
Yes, but the price?

>>60645487
If tether actually plays by the rules, has audits and follows regulations it will be fine.

>>60645490
Tether is kinda shady and might not be able to pass the audit...and 90% of btc's trading volume is via tether...please correct me if I am wrong.

>>60645487
They've already planned everything to port bitcoin into the XRPL.

>>60645487
finally god damn. wait wait wait

>>60645432 (OP)
>xrp act

>>60645505
Elaborate on this please? I'm a btc maxi and am not familiar with xrp etc.

>>60645432 (OP)
We all know who the real master mind was

>>60645518
JIM WATSON ?!

>>60645509
Forget it, an army of pajeet is storming /biz/ to make people believe that XRP has a future through this act. This is not the case, it remains and will remain a scam.

>>60645504
tether is very well collateralized, the idea that tether is "shady" is just propaganda.

>>60645432 (OP)
>some government word salad
>BTC dumps
kek

>>60645548
Tether most likely doesn't have full 1:1 backing like required in the bill.

>>60645432 (OP)
it was fun playing, now this shit is gonna dump because everything is market manipulated

>>60645561
the language of the bill is identical to the collateralization employed by both circle and tether. they hold cash and cash-equivalents

>>60645612
Are you sure? If tether goes, btc is finished. And if btc goes, the entire crypto space goes as well.

>>60645672
>the entire crypto space goes as well.
They won't let this happen for sure. Something tells me like there is plan B or something.

>>60645432 (OP)
Bad bot!

>>60645504
shady is a kind word. lookup the original CFO behind tether ooh my fucking gawd

>>60645518
Seethe harder linky

>>60645548
then why have they never had a proper audit?

>>60645490
Requires an audit of reserves to be legal. Tether refused the MiCA audits and got kicked out of Europe. Now they face the same hurdles in the US market. They'll get the boot a second time.

>>60645672
Thank God XRP isn't a crypto as I've been told ten bazillion times.

>>60645869
This cant only go on for so much longer. Youll have to face the piper eventually.

>>60645958
Price? Oh, and Chart?

>>60645518
>We all know who the real master mind was

>>60645971
The stablecoin bill is literally built around oracles lol

>>60645538
you're thinking of LITE and LINK, two scams that are objectively only for jeets and troons

>>60645432 (OP)
Don't care, Monero or nothing

>>60645853
Some anons say they cleaned up their act in recent years, do you think they can abide by the Genius Bill rules?

>>60645432 (OP)
im broke as fuck and literally put my only couple hundred i have into xrp today
xrp is going to moon, bitcoin will tank, but not before bitcoan soars to make it look like the one, then the jews pull the rug out by enforcing their legislation just passed. bitcoin will be illegal in america, just like gold in the 30s, and by that point the jews will have pumped xrp so high you cant afford it
classic bait and switch

>>60645432 (OP)
guys amigonna make it with only 100 xrp?

>>60645504
>Tether is kinda shady
Did you ever consider that it is already controlled by the US Government? Paypal was cracking down on terrorism already back in 2002.

>>60646130
So you think tether is too big to fail? I hope so...if tether goes, btc is finished.

>>60645612
Tether actually holds a small percentage of BTC and Gold, which they would have to sell to meet the regulatory requirements of the act.

So looks like the bill gives a 3 year grace period for stablecoin issuers to come into compliance...tether's leader also mentioned that he can simply create a US compliant version of tether (similar to binance vs binance US), so looks like tether (and by extension btc) will be okay.

>>60645487
Correct, this is why 120k is the absolute top, if you're still holding crypto before this blood bath kicks off, then I suppose have fun having institutions drop their bags on you.

>>60645490
Tether will fail their audit.

>>60646765
Tether has 3 years to become compliant, or they can issue a new stablecoin specifically for the US markets, while USDT will be for all the overseas markets, similar to how binance made binance us just for the American market. USDT was never aimed at America anyways, so any setback will be temporary.

>>60646788
>tether forced to openly admit they currently do not have a 1:1.
>"everything will be fine"
You've never heard of a bank run, have you anon?

>>60646888
>tether forced to openly admit they currently do not have a 1:1
No need to admit it, it's an open secret. Tether will just make USDT America First edition, whilst business goes on as usual outside of America. Furthermore, Tether can also become compliant...they have a 3 year grace period which is more than enough time.