So-called stablecoins aren't really stable; I call them synthetic dollars. The proposed "GENIUS Act" would facilitate the transfer of US debt to any corner of the globe. This is a major concern for me: imagine lending, for example, in USDT to other governments—this implies that economic sovereignty could fall into the hands of a centralized issuer. If a country fails to meet the lender's conditions, the issuer (Tether) could freeze USDT funds or blacklist the country with the push of a button. This raises serious geopolitical risks and issues of dependency that deserve thorough debate and clear regulation.