When President Trump signed the GENIUS Act into law on Friday, declaring it would “cement American dominance of global finance and crypto,” he revealed far more than enthusiasm for digital assets. The legislation, seemingly designed to regulate the $250 billion stablecoin market, represents the most significant challenge to Federal Reserve authority since the institution’s founding in 1913. What appears to be regulatory transparency for cryptocurrency markets is, in reality, the infrastructure for an alternative monetary system that could render traditional central banking obsolete. The timing of this legislative triumph reflects the coordinated nature of the assault on traditional monetary policy. As President Trump intensifies his public criticism of Fed Chair Jerome Powell, demanding interest rates be slashed to 1 per cent, the GENIUS Act provides the technical framework for bypassing the Federal Reserve entirely. This is not a coincidence but a strategy. The legislation requires stablecoins to be backed by liquid assets such as US dollars and short-term Treasury bills, creating a parallel monetary infrastructure that operates independently of traditional banking oversight while maintaining the appearance of dollar stability.