based on materials from the site -
By Tokentopnews.com
Today, Donald Trump signed the GENIUS Act in the White House, representing a groundbreaking law on stablecoins aimed at strengthening the U.S. digital asset sector and ensuring its security.
This key piece of legislation aims to enhance the global status of the dollar, potentially expanding the stablecoin market while simultaneously increasing oversight of the market.
Donald Trump signed the GENIUS Act, a crucial law on stablecoins, leading to significant changes in cryptocurrency regulation in the U.S. This move signals a substantial policy shift compared to the previous restrictive approaches of the Biden administration. For more details on this change, see the new White House roadmap regarding cryptocurrencies.
Key figures, including Treasury Secretary Scott Bessent, emphasize the role of the new law in strengthening the global status of the dollar and increasing demand for Treasury bonds. This comprehensive strategy aims to significantly bolster the U.S. digital asset sector. As Scott Bessent stated: 'This revolutionary technology will strengthen the dollar's status as the world's reserve currency, expand access to the dollar economy for billions of people worldwide, and lead to a sharp increase in demand for U.S. Treasury bonds that back stablecoins.'
The legislation affects billions, expanding access to the dollar economy and impacting the stablecoin markets. According to Standard Chartered, this could increase the market value of stablecoins to $2 trillion by 2028. Trump is enacting important stablecoin legislation for the crypto sector.
The financial contribution of the crypto sector to Trump's campaign underscores the strategic significance of the law. However, Trump's promotion of the meme coin $TRUMP amid regulatory changes raises ethical questions.
$BTC, $XRP, $SUI
#MarketRebound, #Cryptomarketnews
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