zlacker

Since the GENIUS act [1], stablecoins have been backed by the US military too, as long as the stablecoin issuer itself keeps its reserves in U.S. Treasuries.

It's an interesting point about currencies being backed by military force though. Given the recent technological advancements in drones and robotics, it makes me wonder if someone will launch a non-GENIUS-act-compliant cryptocurrency and then back it simply by military force.

[1] https://www.congress.gov/bill/119th-congress/senate-bill/158...