What is the content of the Genius Act?

It is probably just that as long as payment, banks, and other large institutions comply with anti-money laundering laws and regulations, and have sufficient asset backing—such as holding enough short-term U.S. Treasuries—they can issue stablecoins themselves and print money on the blockchain.
If this thing is feasible and the business on the blockchain is thriving with huge profits, then more and more large institutions will join this game in the future. As a result, future U.S. Treasury bonds will have a significant and continuous support of purchasing power.
The Genius Act is a very, very critical event that may open up the blockchain to the real world, making RWA (off-chain assets) a reality. Because a stablecoin is essentially an RWA asset, then it is logical to legislate the tokenization of the real estate chain, the tokenization of the equity chain of the legislative company, and the tokenization of all other valuable assets into tokens and circulate on the blockchain - you can easily buy a share of the house in the United States or Dubai for a few thousand dollars, and the rental return of the house will be automatically distributed directly to your wallet through the smart contract, without bookkeeping and not afraid of default. And how does the tenant pay the rent? It must also be a payment token, because if you don't pay tokens, you can't use smart contracts. So in the future, people all over the world will not use the balance in their bank cards? Most likely not, but cryptocurrency, the banking system is a thing of the last era.