#StablecoinLaw President Trump signed a historic bill on Friday to regulate cryptocurrencies, hailing the "exciting new frontier" of technology, one day after the bill was passed by the House. The legislation, called the GENIUS Act, is the first major law governing digital currency and establishes a regulatory framework for the $250 billion stablecoin market. Stablecoins are relatively considered a type of cryptocurrency since their value is secured and tied to other assets, such as the dollar. The bill was passed by the House on Thursday with the support of 206 Republicans and 102 Democrats. "We have worked hard. This is a very important law, the GENIUS Act. They named it after me," the president joked in the East Room of the White House. "I want to thank you. It's quite a remarkable act." Members of Congress and leaders from Robinhood, Tether, Gemini, and other cryptocurrencies.