#StablecoinLaw Trump signed a law regulating stablecoins. How did the crypto market react?

US President Donald Trump on Friday, July 18, signed the historic GENIUS Act, introducing clear regulations for stablecoins — digital currencies tied to the dollar. This is the first comprehensive law in the US establishing a legal framework for this category of crypto assets.

Stablecoins are considered a relatively safe type of cryptocurrency since their value is pegged to other assets, such as the US dollar. The bill passed through the House of Representatives on Thursday, July 17, with the support of 206 Republicans and 102 Democrats.

"We worked hard. GENIUS is a very important law. They named it in my honor— joked the president in the East Room of the White House.