STABLECOIN RULES JUST MISSED A MAJOR DEADLINE ( GENIUS ACT)

[00:00:00]If you don't adapt crypto, if these companies, these payment technologies are not being integrated with cryptocurrencies, they run the risk of not being around in the next 5 to 10 years.

[00:00:16]So, diving right into it here, US agencies miss Genius Act deadline. And so, what we're seeing here is US regulators missed the deadline with proposed rules instead. So, Genius Acts one-year deadline for final stable coin rules. The law was signed July 18th, 2025. And if you guys didn't know, it was designed to create the first comprehensive federal stable coin framework in the United States. So agencies including the Treasury, the OC, the FDIC, the Federal Reserve issued proposed rules, but no final regulations were issued before the statutory deadline. So uh instead, these agencies released 10 proposed rule notices over the past year. The Treasury issued the most proposals covering state regime standards, foreign issue registration, and anti- moneyaundering compliance. So miss missing the deadline here guys does not kill the genius act but it does leave stable coin issuers facing more uncertainty which is another reason why clarity needs to pass. We've been seeing this every day. Clarity needs to pass.

[00:01:33]Let's pass clarity. Here's another reason why, right? Because there's still a lot of uncertainty. [music] So uh here we see that the US has stable coin law on the books but without final rules the market still lacks clarity. All right so that's the that's the theme when you look at the United States and you know the crypto adoption there is no clarity.

[00:01:56]So essentially we're almost still in the wild west right we know the technolog is there we see other countries taking a step forward and embracing this tech and the United States still still a lot of uncertainty. So, um, a lot to come within the past few next few weeks, um, to really sum up where we're at big picture as it pertains to crypto adoption. So, um, a lot of uncertainty right now. Uh this is not a failure for the genius act in particular, but it's looking like some uh shortcomings when it comes to real life clarity dos and don'ts and you you have a ton of institutions, a ton of big companies waiting on the sideline as a result. So if the United States wants to be the crypto capital of the world, clarity needs to pass. Next up, we see South Korean regulator upbit parent uh Dunamo faces South Korean sanctions process. Uh and so what we're seeing here is uh South Korea's financial supervisory service reportedly sent an inspection opinion letter to Dunamu. And Dunamu is the operator of Upbit if you didn't know, the parent company. So the letter relates to Upid's $36 million hack from November 2025 and also the letter marks the formal start of sanctions procedure. So Dunamo Dunamu we should call it there's a U at the end. Dunamu now has an opportunity to respond. So um again they're able to respond before regulators notify the company of sanctions. So, Upbit was criticized for delaying its public announcement of the exploit. So, uh, some people are saying they they wanted to hush hush the breach, but the breach reportedly lasted up to 54 minutes. Up bit later said it would fully reimburse the infected customers using its own balance sheet. And the exchange also developed an automatic onchain tracking system to help trace stolen funds. So, uh, we see here South Korea, they're trying to tighten exchange accountability, but the law still has gaps around hacks and system failure.

[00:04:24]So, you're seeing the same thing. Uh, I wouldn't say the same, but something similar happening in South Korea as what's happening in the United States, right? There's still not, you know, this is new technology. And I think that is painting the picture as to how early we really are, right? When you see when you see all this going on, you see things happen, you see an an exploit happen, and there's no real clarity. There's no real guidance as to what to do, that is a an automatic opportunity to show you how early we really are when it comes to cryptocurrency, when it comes to blockchain, when it comes to crypto adoption. We are extremely early. And when I see this and you know South Korea before they issue sanctions they even have to have to see what exactly they're going to do because this is all new right this is extremely new and uh even though uh Cointele Coint Cointelegraph approached Dunamu for comment on the matter uh they didn't get anything [music] uh but the big thing right now I think and it doesn't look good is up bit face criticism for delaying the announcement of that exploit right so um 54 minutes, right? 54 minutes to get off with 36 million. That's huge. So, um even though they reimburse users, launched this onchain tracking system, uh that still um there the law and and I think the legal system globally, they want to have some type of accountability because back in the day, if you if there was an exploit and you you hold your crypto on the exchange, you're just out of luck, right? It's almost like it is what it is, not your keys, not your coins type scenario. Now you're kind of getting to that to that uh that position where you can have some type of protection if something does happen outside of your control potentially. So um we still believe in self custody. Um there there are other other options that are even uh safer than uh than keeping on the exchange, right? You can see uh big partners like iTrust Capital, right?

[00:06:28]another another way to, you know, [music] to have your funds sit somewhere else, especially if if if you were to pass away. I trust Capital can hold that and and really help navigate that cuz a lot of people lose crypto just by passing away and it just sits there and no one knows how to get into it. So, that is a reality as well. So, [music] um we'll keep you updated on Upbit.

[00:06:52]We'll see how this unfolds. I'd like to see how they react to this as well. They say sanctions, but what is that going to look like? So, um, next up we have, uh, the payments industry expects more Bitcoin startup partnerships. So, Electronic [music] Transactions Association CEO saying that they expect more Bitcoin uh, partnerships, Bitcoin startup partnerships. And here we're seeing that Jason Oxman said the traditional payment companies may recognize Bitcoin's disruptive potential. The ETA represents major payment companies including Visa, Mastercard, Amazon, PayPal. The comments came after Bitay became the first virtual currency to uh v virtual currency company to join this uh ETA. So uh ETA, electronic transactions association like companies are coming in, [music] virtual currency companies are coming in. So again making a way for crypto and here we say the CEO also said that uh electronic transactions will take whatever form customers and merchants choose and he also uh pointed the bitcoin education as a as reason payments companies may take technology more seriously. Right? So right now I think we're in that I don't think now but I think previously we're in a position where no one really took it seriously at all. Right? They were just, yeah, that Bitcoin stuff, no, we're not doing that. No. Like, it was it was it was kind of uh it wasn't necessarily derogatory. It was just like, yeah, we don't believe in that. We're not doing that. Right? And then the big wigs start coming in and you see ETFs roll out. You see, uh, you know, institutions start to, you know, add crypto to their trading desk, right? So, you see that happening to kind of give that validity.

[00:08:38]And now we're seeing, you know, Bitcoin and cryptocurrencies really have a seat at the table. So, uh, one thing I I saw when I was looking at this article is that Bitcoin payment story is not dead.

[00:08:51]Legacy payment companies may increasingly partner with crypto infrastructure instead of fighting it because they have to, right? It's not like it's not like, you know, uh, let's say 5 to 10 years ago where it was really like a choice. No, we're not we don't want anything to do with crypto.

[00:09:09]You're able to say that. Now, if you say that, you're probably on the verge of being extinct. Like we talk about all the time, I truly believe that this is an adapt or die situation. If you don't adapt crypto, if these companies, these payment technologies are not being integrated with cryptocurrencies, they run the risk of not being around in the next 5 to 10 years. And nobody wants that. So, we look at everything and we're going to keep you updated. And I think when we look at the market update today, I truly believe that this shows you where we're at in crypto. All right?

[00:09:47]And this is all happening with Bitcoin being in limbo, right? Pretty much consolidation here uh ever since the first week of July. It's been completely consolidation in this zone. Not making a new high, not making a new low. Um and even though we're overbought, you know, they would say that we could go lower. I want to see the break levels broken, right? You guys know where I stand. 68K above. We're uh back in uh bull territory. Um until then, consolidation or bearish sentiment. Huge opportunity to accumulate if I don't say so myself. Hope you guys got some value out of this video. Keep moving forward in everything that you do. See you soon.