🇺🇸 The GENIUS ACT officially takes effect

Early this morning, Mr. Trump signed the Genius Act into law

The Genius Act establishes a legal framework for the $250B stablecoin market

During the ceremony, Mr. Trump stated:

- The Genius Act will ensure that the U.S. dominates the global crypto market

- This legislation is a major affirmation for crypto

- Crypto is good for the dollar and for America

- Commitment not to create a U.S. CBDC

- A turning point for blockchain development

The Secretary of the Treasury - Mr. Bessent added:

Blockchain promotes the payment system, the dollar will be brought onto the chain

With the Genius Act, the U.S. is making a big bet on crypto as part of its national financial strategy in the coming decade🫡