#StablecoinLaw Donald Trump signed new regulations on Friday for a type of cryptocurrency, a significant milestone for a sector that has invested heavily to strengthen its legitimacy and political power.

The GENIUS Act establishes initial safeguards and consumer protections for stablecoins, which are pegged to assets such as the US dollar to reduce price volatility compared to other forms of cryptocurrency. The law was passed by the House and Senate with wide bipartisan margins.

The new law aims to bolster consumer confidence in the cryptocurrency industry, which has quickly become a major force in Washington thanks to enormous campaign donations and lobbying expenditures. Its approval comes after Trump has repeatedly promised to make the US the "world capital of cryptocurrency." "For years, you have been ridiculed, rejected, and dismissed," Trump told cryptocurrency industry executives during a bill signing at the White House, attended by around 200 people, including several high-ranking Republican lawmakers. "This signing is a huge validation of your hard work and pioneering spirit."💸💸💸💸💸💸💸✅✅✅✅✅✅✅✅💸💸💸💸💸💸💸💸💸💸💸💸💸😱😱😱😱😱😱😱😱😱😱😱😱