#StablecoinLaw U.S. President Donald Trump signed the first federal law regulating stablecoins on July 18, Bloomberg reports.

The law on the management and establishment of national innovations in the field of stablecoins (GENIUS Act) aims to create a regulatory framework for stablecoins in the U.S.

"The GENIUS Act creates a clear and simple regulatory framework for establishing and realizing the enormous potential of dollar-backed stablecoins. This may be the biggest revolution in financial technology since the advent of the internet itself," Trump stated at the ceremony at the White House.