On Friday, President Donald Trump enacted the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, marking a significant step for crypto and blockchain under his administration. The signing ceremony included prominent figures from the cryptocurrency sector, such as Kraken's David Ripley and the Winklevoss twins from Gemini. Trump praised the crypto community for their resilience, stating that this legislation validates their efforts. SEC Chair Paul Atkins emphasized the need for clear regulations to foster confidence in emerging technologies, while Commissioner Hester Peirce clarified that payment stablecoins would not be classified as securities. The GENIUS Act is part of a broader legislative effort, alongside the Digital Asset Market Clarity (CLARITY) Act and the Anti-CBDC Surveillance State Act, which have garnered bipartisan support. However, some Senate Democrats may oppose these bills, citing potential conflicts of interest due to Trump's ties to the crypto industry. Despite this, a significant number of House Democrats supported the GENIUS Act, indicating a growing acceptance of crypto regulation. Read more AI-generated news on: https://app.chaingpt.org/news

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