The GENIUS Act does not eliminate government control over money, make Bitcoin tax-free, or legalize decentralized finance. Instead, it disrupts the historical monopoly of powerful banks over global dollar clearing. This act introduces a significant shift in financial power dynamics, aligning with the rise of stablecoins and promoting broader monetary freedom. The author reflects on the aspirations associated with crypto—creating more accessible financial systems—alongside concerns about its potential to infringe on financial freedoms, especially under increased regulation. The act marks a response to the de-dollarization movement led by China and BRICS, utilizing stablecoins to counter financial imperialism rather than intensify surveillance. The article concludes that while the GENIUS Act does not fulfill the crypto dream, it does offer increased access to dollars and crypto, with implications for the future depending on political dynamics.

Source 🔗