Local time on July 17, 2025, the U.S. House of Representatives voted to pass three bills related to stablecoins and other cryptocurrencies. On July 18, President Trump officially signed the "Guidance and Establishment of the U.S. Stablecoin National Innovation Act" (referred to as the "Genius Act") at the White House, marking the first formal establishment of a regulatory framework for digital stablecoins in the U.S., opening a new era of cryptocurrency legislation. The details are as follows:

- "Guidance and Establishment of the U.S. Stablecoin National Innovation Act": Aims to create a regulatory framework for stablecoins that are "pegged" to the U.S. dollar. The bill requires that stablecoins be supported by liquid assets such as the U.S. dollar or U.S. short-term Treasury securities, all stablecoin issuers must obtain federal or state-level licenses, and assets must not be diverted for other uses, while also requiring issuers to disclose stablecoin reserve details monthly.

- "Digital Asset Market Clarity Act": This bill aims to clarify the regulatory scope of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), providing clear rules for the cryptocurrency market. The bill classifies digital assets into commodity assets and securities assets, with the CFTC taking a core regulatory role responsible for overseeing commodity digital assets, while the SEC oversees securities digital assets.

- "Anti-Central Bank Digital Currency Monitoring National Act": Passed by House Republicans taking advantage of their majority position. The bill requires the Federal Reserve to be prohibited from issuing central bank digital currency in the future, on the grounds that central bank digital currency would allow the U.S. federal government to monitor, track, and even