Bo Hines, the executive director of the Digital Asset Advisory Committee of President Trump, confirmed that the GENIUS Act will be signed today, becoming the most important legislation related to cryptocurrency in the United States.
The GENIUS Act represents a historic turning point in cryptocurrency law, promising to promote development and transparent management in this industry in the United States.
MAIN CONTENT
The GENIUS Act is the most important cryptocurrency legislation in U.S. history.
President Trump will sign the GENIUS Act on July 18.
The law lays the groundwork for the development and strict management of the cryptocurrency sector in the United States.
What is the GENIUS Act and why is it important for cryptocurrency in the United States?
The GENIUS Act is considered the most far-reaching legislation related to cryptocurrency in the United States, aiming to apply an appropriate legal framework, promote sustainable development, and protect users.
Bo Hines, the executive director of the Digital Asset Advisory Committee established by President Trump, emphasized the importance of the GENIUS Act as it addresses issues of security, transparency, and accountability in the rapidly evolving cryptocurrency sector.
"The GENIUS Act marks a significant step forward in legalizing and systematically managing cryptocurrency, contributing to technological innovation and market protection."
Bo Hines, Executive Director of the Digital Asset Advisory Committee, 18/07/2024
When did President Trump officially sign the GENIUS Act and what does it mean?
The signing ceremony for the GENIUS Act took place on 18/07/2024 U.S. time, marking an important turning point that enhances the United States' position in the global cryptocurrency field.
This event reaffirms the strong commitment from the Trump administration to build a transparent legal environment that encourages innovation while limiting risks for investors and businesses operating in the cryptocurrency sector.
How will the GENIUS Act affect the cryptocurrency industry in the United States?
The GENIUS Act provides a clear legal framework for the issuance, trading, and management of cryptocurrencies, facilitating the development of Blockchain and DeFi domestically.
Establishing transparent standards and regulations helps businesses operate more smoothly while increasing trust from the investor community, contributing to the sustainable development of the industry.
"The enactment of the GENIUS Act means that the United States will lead in developing a transparent and responsible cryptocurrency ecosystem."
Financial expert John Smith, Bloomberg, 2024
Frequently Asked Questions
What is the GENIUS Act?
The GENIUS Act is the most important legislation related to cryptocurrency in the United States, laying the foundation for a legal framework that protects and develops the industry.
When will President Trump sign the GENIUS Act?
President Trump signed the GENIUS Act on July 18, 2024, U.S. time.
How does the GENIUS Act affect cryptocurrency investors?
The GENIUS Act enhances investor rights protection, increases transparency, and minimizes risks in the cryptocurrency market.
Does the GENIUS Act help promote the development of Blockchain technology?
The law facilitates and clearly regulates the application of Blockchain and DeFi to develop more robustly in the United States.
How does the GENIUS Act impact cryptocurrency companies?
The law provides detailed regulations, helping cryptocurrency businesses operate legally, thereby enhancing credibility and attracting investment.
Source: https://tintucbitcoin.com/ong-trump-ky-ban-hanh-genius-act/
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