Trump Officially Signs Genius Act into Law
United States President Donald Trump officially signed the Genius Act, legislation related to stablecoins, into law on Friday (07/18) local time.
"Honestly, the entire crypto community, for years you have been mocked, belittled, and underestimated. You were underestimated just a year and a half ago, but this signing is a very large validation," said Trump.
The Genius Act is just one of three crypto bills that have been fiercely debated and will be considered this week in the House of Representatives (DPR), along with the CLARITY Act and the Anti-CBDC Act.
Previously, the three bills failed in a procedural vote with 220 against and 209 in favor. However, the DPR held another vote on Wednesday (07/16) and successfully revived the process with a narrow result of 215–211.