🇺🇸💥 Historic! President Donald Trump signs the GENIUS Act, the first major federal law to regulate stablecoins in the U.S. ⚖️💰
✨ Key points of the GENIUS Act:
• Requires 100% liquid reserve (dollars or Treasury bonds) for stablecoins, ensuring their stability and trust. 💵🔒
• Mandates monthly public disclosures and annual audits for large issuers. 📊🕵️♂️
• Protects consumers by prohibiting misleading claims of government backing or federal insurance. 🚫❗
• Aligns state and federal regulation to facilitate compliance and operate across states. 📜🤝
• Reinforces the role of the dollar as a global reserve currency and strengthens national security. 🌍🛡️
Trump emphasized that with this law, the U.S. will be the global capital of crypto, driving investment and innovation in fintech: "It's a financial revolution as big as the internet" 🌐🚀