Under the proposed 'Genius Act,' approved entities like banks or potentially large tech companies (e.g., Apple, Meta) could issue regulated, dollar-backed stablecoins in the US.
"And under the Genius Act, it says only approved issuers like banks, trust companies or non-bank firms can get special approval. They can issue regulated dollarbacked stable coins in the United States. So if Apple or Meta wanted to, they could create their own currency like Metacoin, right?"