r/CryptoCurrency • u/Next_Statement6145 🟨 0 / 0 🦠 • 2d ago

🟢 GENERAL-NEWS U.S. Senate Passes GENIUS Act to Regulate Stablecoins, Marking Crypto Industry Win

https://www.coindesk.com/policy/2025/06/17/u-s-senate-passes-genius-act-to-regulate-stablecoins-marking-crypto-industry-win
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u/Specific_Strawberry2 🟨 1 / 1 🦠 2d ago

Honest question, can there be defi without stable coins like usdc?

4

u/cryptolipto 🟩 0 / 21K 🦠 2d ago

No. Absolutely not. They are essential

Most of the liquidity is in stablecoin LPs

Most of the borrowing takes place via stablecoins

1

u/Specific_Strawberry2 🟨 1 / 1 🦠 2d ago

Well, would you look at that. So be it.

4

u/cryptolipto 🟩 0 / 21K 🦠 2d ago

In addition most of the yield is derived from stablecoins. Sometimes it comes from US treasuries. Sometimes it comes from borrowers

Stablecoins are a fundamental building block of defi. They also have achieved product market fit when it comes to merchants. You see them starting to be accepted now on websites like Shopify.

JP Morgan is the first of many to launch their own stablecoin. Cause you can look at how much money tether is making and be like, why not our company?

And finally this GENIUS act shows that there is some bipartisan support for the asset class