#StablecoinLaw

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

‎

‎Here's the lowdown:🚀‎

‎-Regulatory Framework:❤️

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

‎- 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.

‎- 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.