#CryptoMarket4T "U.S. President Donald Trump has just signed into law the Genius Act, an important piece of legislation aimed at establishing a legal framework for stablecoins – a type of digital currency pegged to the value of fiat currencies like the USD.

This is the result of a long lobbying process from businesses and individuals in the cryptocurrency industry, marking a significant advance in the legalization of digital assets in the U.S. The law requires stablecoin tokens to be backed by highly liquid assets such as USD or short-term U.S. government bonds. At the same time, stablecoin issuing organizations are also required to disclose the composition of the collateral assets each month to ensure transparency. This is seen as a necessary step to enhance the reliability of stablecoins in the financial system.

Industry stakeholders believe that the new law will encourage banks, retailers, and consumers to use stablecoins for money transfers and payments, thereby integrating digital assets into everyday life. A popular stablecoin typically has an exchange rate of 1 USD, allowing users to flexibly convert between tokens and minimize price volatility."