Comment by btouellette 11 hours ago
With regard to Tether none of this is applicable as they aren't compliant with the GENIUS Act. They are in fact attempting to launch a totally separate stablecoin to try to get some of that market: https://www.reuters.com/sustainability/boards-policy-regulat...
If it really is the goal to increase treasuries demand by means of stablecoins, then I would expect them to enforce this. If the stablecoins aren't really buying the assets then they do nothing for demand.
If another goal is to enrich the Trump family, then the SEC could forgo enforcement on the World Liberty Financial stablecoin. But they could still enforce the act for everyone else.
Increasing demand for treasuries, thus keeping interest rates down, also directly benefits Trump because he's bought at least $100 million in bonds since becoming president.
https://www.yahoo.com/news/articles/trump-buys-more-100-mill...
Right, and who is looking at it anyways? Let's not kid ourselves, noone at the SEC will be enforcing "genius" act. Does anyone realistically think otherwise?