The GENIUS Act, now enacted, initiates a critical two-year period to establish regulations for $250 billion in stablecoins. This regulatory 'war' will determine whether these assets integrate with traditional banking structures or disperse into offshore markets. The article highlights Bitcoin's role as a potential 'last bastion against censorship' while posing an uncertain future for both Bitcoin and Ethereum regarding their ability to absorb or be overwhelmed by the regulatory fallout.