The Senate revived the GENIUS bill on Monday, after a procedural vote put the bill on track to receive the green light. Altcoins like Best Wallet Token could catch steam as a result.
GENIUS was initially rejected by the democrats two weeks ago due to concerns relating to Donald Trump’s ‘crypto dealings.’ Dem Senator, Elisabeth Warren, led the charge against the bill and reinforced her opinions yesterday, saying:
‘This week’s bill is worse than no bill at all,’ she stated, invoking the danger of increased corruption and even putting national security at risk.
Enactment of the GENIUS bill could reverberate in the crypto market and fuel some of the best altcoins like Best Wallet Token ($BEST).
What’s the GENIUS Bill and Will It Fuel Altcoins like Best Wallet Token?
Simply put, the GENIUS bill is a piece of legislation that would regulate the crypto space, more specifically, stablecoins.
Among the numerous specifications, the most notable ones are:
‘(GENIUS) would define payment stablecoin as a digital asset issued for payment or settlement and redeemable at a predetermined fixed amount (e.g., $1). Issuers would be required to hold at least one dollar of permitted reserves for every one dollar of stablecoins issued.’
And
‘Stablecoins could be issued by banks and credit unions (through subsidiaries) or nonbanks (which would not be restricted to financial firms), each of which would be required to register with the appropriate federal regulator.’
While most democrats were against the bill originally, some have supported it, arguing that Trump’s supposed crypto shenanigans highlight the need for more strict regulations in the crypto space.
This last point ultimately proved paramount to shifting the democratic tide, as several bipartisan negotiators jumped boats after reaching a consensus regarding their main demands.
These include new and more strict changes to the consumer protection policies, more transparent restrictions on tech companies dealing with stablecoins, and extend these standards to governmental agencies.
The last mention would also target Elon Musk and tech giant David Sacks.
So, what does this all mean for the crypto market? As Kara Calvert, Head of US Policy at Coinbase, put it:
‘The winners, if Congress passes this bill, are Americans who want to make payments faster and easier to access. It’s transformational technology, so passing this bill is a win for them. It’s not just a win for the industry or a political candidate.’
In Calvert’s view, the GENIUS bill is a massive step forward for the cryptosphere.
Naturally, we expect the crypto market to react accordingly and pump some of the most exciting new crypto projects like Best Wallet Token ($BEST).
Best Wallet Token ($BEST) – Holders Enjoy Lower Transaction Fees
Best Wallet Token ($BEST) offers holders several benefits, including lower fees across the Best Wallet ecosystem, early access to trusted presales and upcoming hot meme coins, and community governance rights.
Holding $BEST also rewards you with a dynamic staking APY of up to116%, adding even more incentive to tune into the presale early on.
The project’s whitepaper details Best Wallet’s long-term goal of capturing at least 40% of the crypto wallet market share by the end of 2026.
Best Wallet Token is currently one of the best presales for 2025, with over $12.5M raised so far and a token price of $0.025055. If you want to invest, you should do it now, before the next price increase, which is due in less than two days.
Our ‘how to buy $BEST’ guide will teach you how to set up your wallet and secure your $BEST tokens, if you’re not familiar with the purchasing process.
Our analysts predict that $BEST could triple in value by the end of 2025 and reach a meaty $0.82 by 2030. With a current price of $0.025055, that would make for a net growth of 3,172%, enough to make anyone FOMO at the mouth.
Will the GENIUS Bill Pass?
Yes, we believe that the GENIUS bill will pass, given all the support it’s getting and the dems’ recent bipartisan efforts, overturning the failed attempt on May 8.
Once that happens, we expect the market to react accordingly and pump crypto fuel in both established and new crypto projects like Best Wallet Token ($BEST).
So, definitely keep your eyes and ears on the news.
Remember, you shouldn’t take this as financial advice. The crypto market is still volatile and unpredictable, so you should always DYOR (Do Your Own Research) before investing.
