Trump Signs: GENIUS Act Brings Historic Regulation to These Coins!
US President Donald Trump has signed the GENIUS Act, the first federal law addressing stablecoins, ushering in a new era for the digital asset industry.
One of the cryptocurrency world's long-awaited regulatory steps has finally come to fruition. President Donald Trump officially signed the GENIUS Act, which provides the first comprehensive federal regulation of stablecoins in the US, at a ceremony at the White House attended by prominent figures in the crypto industry. Passing the House of Representatives by a resounding 308-122 and the Senate by a 68-30 vote, the legislation will significantly streamline the crypto sector's integration with US regulations.
The ceremony was attended by prominent figures in the crypto industry, including Coinbase CEO Brian Armstrong, Tether CTO Paolo Ardoino, Circle CEO Jeremy Allaire, and Gemini founders Cameron and Tyler Winklevoss. During the ceremony, Trump emphasized the progress the crypto world has made in the past few years, saying, “Under the Biden administration, no one understood what you were saying; half of you were even arrested. The signing here today is a victory in this entire struggle and a great validation.”
A New Era for Crypto
The GENIUS Act will clearly define the rules and oversight that stablecoin issuing companies must follow. This could accelerate the participation of Wall Street institutions in the industry, which is currently dominated by Tether (USDT) and Circle (USDC). According to Moody's analyst Rajeev Bamra, the law will increase transparency in the stablecoin market and strengthen consumer rights.
With this legislation, the focus for stablecoin issuers will shift from lobbying to successful enforcement of regulations. The crypto industry is now preparing for an era of much clearer rules.
