#StablecoinLaw

President Trump just signed the GENIUS Act into law, marking a HUGE milestone for the crypto industry during "Crypto Week.

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‎Here's the lowdown:

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‎-Regulatory Framework:

‎The GENIUS Act sets clear rules for US dollar-backed stablecoins, requiring firms to hold dollar-for-dollar reserves.

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‎- Conflict of Interest:

‎Congress members and their families are banned from profiting from stablecoins, but notably, this doesn't apply to Trump and his family.

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‎- Industry Boost:

‎This move aims to strengthen American dominance in global finance and crypto tech, which Trump calls a "giant step" and "massive validation" for the crypto industry.

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‎What are your thoughts on this game-changing development, crypto fam?