#StablecoinLaw

Donald Trump signed a new law on Friday regulating a type of cryptocurrency, a significant step for an industry that has spent heavily to bolster its legitimacy and political power.

The GENIUS law establishes safeguards and protections for consumers of stablecoins, which are tied to assets like the US dollar to reduce price volatility compared to other cryptocurrencies. It was passed by the House of Representatives and the Senate with broad bipartisan majorities.