Amikor 2025 j\u00falius\u00e1ban Donald Trump al\u00e1\u00edrta a GENIUS Act stablecoin szab\u00e1lyoz\u00e1s<\/strong>t \u2013 a Guiding and Establishing National Innovation for U.S. Stablecoins t\u00f6rv\u00e9nyt \u2013, a kriptoipar \u00fcnnepelt. V\u00e9gre van jogszab\u00e1lyi keret a stablecoinokra! F\u00e9l \u00e9vvel k\u00e9s\u0151bb viszont egyre t\u00f6bben k\u00e9rdezik: t\u00e9nyleg ezt akartuk?<\/p>\n The essence of the law is relatively simple: only licensed issuers can issue payment stablecoins in the USA, and these must be fully backed. Issuers must meet reserve and redemption requirements and undergo regular audits.<\/p>\n So far, so good. But as the saying goes: the devil is in the details.<\/p>\n In late February 2026, the Office of the Comptroller of the Currency (OCC) published a 376-page regulatory proposal detailing the implementation of the GENIUS Act. And this is where the trouble began.<\/p>\n A javaslat egyik legvitatottabb pontja a hozamfizet\u00e9s k\u00e9rd\u00e9se<\/strong>. A GENIUS Act tiltja, hogy a stablecoin kibocs\u00e1t\u00f3k kamatot vagy hozamot fizessenek a tokentulajdonosoknak. Az ipar eddig \u00fagy \u00e9rtelmezte, hogy harmadik felek \u2013 p\u00e9ld\u00e1ul a Coinbase \u2013 viszont k\u00edn\u00e1lhatnak saj\u00e1t reward programokat az adott stablecoinra.<\/p>\n The OCC, however, says: if there's a close financial relationship between the issuer and the platform, this could be considered circumventing the law. This directly affects the Circle\u2013Coinbase relationship, which is one of USDC's most important distribution channels.<\/p>\n Itt \u00e9rdemes meg\u00e1llni egy pillanatra \u00e9s felismerni az authority bias<\/strong> m\u0171k\u00f6d\u00e9s\u00e9t. Amikor egy korm\u00e1nyzati szerv szab\u00e1lyoz valamit, hajlamosak vagyunk automatikusan biztons\u00e1gosabbnak \u00e9rezni az adott ter\u00fcletet. \u201eHa van r\u00e1 t\u00f6rv\u00e9ny, akkor rendben van” \u2013 gondoljuk.<\/p>\n But regulation doesn't equal safety. During the 2008 financial crisis, bank regulation existed \u2014 yet it didn't protect investors. The existence of the GENIUS Act alone doesn't guarantee your stablecoin portfolio is safe. It guarantees there's a framework \u2014 but its quality and implementation are still questionable.<\/p>\n Tether (USDT) still dominates the market, despite Circle (USDC) being in a much better position from the GENIUS Act's perspective. USDC already meets most reserve requirements, has regular audits, and is US-headquartered.<\/p>\n USDT? Well, Tether's headquarters remain in the British Virgin Islands, the reserve composition is disputed, and full compliance is questionable. Yet most traders still use USDT.<\/p>\n Ez a klasszikus status quo bias<\/strong>: azt haszn\u00e1ljuk, amit megszoktunk, m\u00e9g akkor is, ha l\u00e9tezik objekt\u00edven jobb alternat\u00edva. Az USDT-t \u201emindig is” haszn\u00e1ltuk, a likvidit\u00e1s ott a legnagyobb, a keresked\u00e9si p\u00e1rok ott a legsz\u00e9lesebbek. V\u00e1ltani k\u00e9nyelmetlen, m\u00e9g ha racion\u00e1lisan meg\u00e9rn\u00e9 is.<\/p>\n K\u00f6zben felbukkant egy \u00faj szerepl\u0151: az USA\u20ae, egy kifejezetten a GENIUS Act keretrendszer\u00e9re \u00e9p\u00fcl\u0151 stablecoin projekt. Az \u00f6tlet az, hogy ha m\u00e1r van t\u00f6rv\u00e9nyi keret, mi\u00e9rt ne lehetne egy \u201eteljesen megfelel\u0151” amerikai stablecoin?<\/p>\n The concept is attractive, but implementation is challenging. A new stablecoin must build liquidity, exchange presence, and user trust from scratch \u2014 all in a market where USDT and USDC have already cemented their positions.<\/p>\n In February 2026, several state prosecutors criticized certain provisions of the GENIUS Act. The main objection: the law gives too much leeway to federal regulators while weakening state-level consumer protection. This debate is far from settled \u2014 and is expected to reignite during negotiations around the Digital Asset Market Clarity Act.<\/p>\n If you use stablecoins \u2014 and you probably do, since they're virtually unavoidable in the crypto world \u2014 it's worth paying attention:<\/p>\n A GENIUS Act stablecoin szab\u00e1lyoz\u00e1s<\/strong> fontos m\u00e9rf\u00f6ldk\u0151 volt \u2013 de nem csodaszer. F\u00e9l \u00e9v ut\u00e1n l\u00e1tszik, hogy a t\u00f6rv\u00e9ny v\u00e9grehajt\u00e1sa legal\u00e1bb annyira bonyolult, mint maga a jogalkot\u00e1s volt. Az OCC javaslata felkavarta az \u00e1ll\u00f3vizet, az USDT vs USDC k\u00e9rd\u00e9s tov\u00e1bbra is nyitott, \u00e9s az eg\u00e9sz stablecoin piac egy nagy \u00e1talakul\u00e1s k\u00fcsz\u00f6b\u00e9n \u00e1ll.<\/p>\n Ami biztos: a \u201eszab\u00e1lyoz\u00e1s = biztons\u00e1g” egyenlet nem ilyen egyszer\u0171. Legy\u00e9l t\u00e1j\u00e9kozott, legy\u00e9l kritikus, \u00e9s ne engedd, hogy a megszok\u00e1s vez\u00e9relje a p\u00e9nz\u00fcgyi d\u00f6nt\u00e9seidet.<\/p>","protected":false},"excerpt":{"rendered":" The GENIUS Act stablecoin regulation has been in effect since July 2025, but the OCC's 376-page proposal and prosecutor criticisms show that enforcing the law is at least as complex as the legislation itself.<\/p>","protected":false},"author":1,"featured_media":807,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,99],"tags":[127,46,151,136,129],"class_list":["post-781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hirek","category-szabalyozas","tag-biztonsag","tag-coinbase","tag-stablecoin","tag-szabalyozas","tag-usa"],"_links":{"self":[{"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/posts\/781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/comments?post=781"}],"version-history":[{"count":1,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/posts\/781\/revisions"}],"predecessor-version":[{"id":808,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/posts\/781\/revisions\/808"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/media\/807"}],"wp:attachment":[{"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/media?parent=781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/categories?post=781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/tags?post=781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What Is the GENIUS Act About?<\/h2>\n
The OCC Weighed In \u2014 And Not With Kid Gloves<\/h2>\n
Authority Bias: If the Government Regulates It, Is It Safe?<\/h2>\n
USDT vs USDC: The Status Quo Bias Trap<\/h2>\n
USA\u20ae: The New American Stablecoin Experiment<\/h2>\n
Prosecutors Weigh In Too<\/h2>\n
What Does This Mean for You?<\/h2>\n
\n
Summary<\/h2>\n