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Trump Backs Crypto With New Stablecoin Law: What the GENIUS Act Means
Trump – In a major policy shift and a bold move toward regulatory clarity in the digital asset space, U.S. President Donald Trump has officially signed the GENIUS Act into law, marking a significant moment in the evolution of cryptocurrency regulation in the United States.
A Turning Point for U.S. Crypto Policy
Once seen as a crypto skeptic, President Trump is now positioning himself as a champion of digital innovation, especially in the realm of stablecoins. Speaking at a White House ceremony on Friday, Trump described the signing of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act as a “giant step” toward securing American dominance in global crypto markets.
“We take a giant step to cement the American dominance of global crypto technology,” Trump stated during the event, which included prominent figures from the crypto industry.
What Is the GENIUS Act?
The GENIUS Act, which passed the House of Representatives with a 308-122 vote after clearing the Senate, is the first federal regulatory framework specifically targeting stablecoins—digital assets typically pegged to traditional currencies like the U.S. dollar.
The new law will make it easier for banks to issue stablecoins, while also boosting transparency and accountability within the market. It is expected to drive innovation while ensuring consumer protections and maintaining the integrity of the U.S. financial system.
Crypto in the Spotlight Ahead of 2025 Elections
Trump’s support for the GENIUS Act is seen by analysts as a strategic move to align himself with the rapidly growing crypto community ahead of the 2025 presidential election. He reaffirmed his commitment by saying:
“Under the Trump administration, this is only going further. You’re going to do really well.”
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
