#StablecoinLaw

WASHINGTON, July 19 (Xinhua) -- U.S. President Donald Trump on Friday signed the Guiding and Establishing National Innovation for U.S. Stablecoins Act, or GENIUS Act, into law, marking the country's first major federal law governing cryptocurrencies.

Passed by a bipartisan majority in Congress, the legislation gave an immediate boost to market sentiment: the total value of cryptoassets surged past 4 trillion U.S. dollars, according to CoinGecko, a cryptocurrency data aggregator website.

"This could be perhaps the greatest revolution in financial technology since the birth of the Internet itself," said Trump