Trump Signs Groundbreaking Crypto Law (GENIUS Act), Calling It a Major Step Forward for Financial Tech. Will Crypto Go Up ?
On Friday, President Donald Trump signed a major new law that reshapes how cryptocurrency is regulated in the U.S. This marks the first big update from Congress on crypto rules and fulfils one of Trump’s campaign promises to support digital asset companies. The new law, called the GENIUS Act , focuses on stablecoins , a type of cryptocurrency that’s tied to the value of the U.S. dollar to keep it steady. Trump signed the law surrounded by Republican lawmakers and top figures from the crypto industry. “This could be the biggest breakthrough in financial technology since the Internet was born,” Trump said, praising the role stablecoins could play in modern finance. He also promised more action ahead, saying he’s ready to approve even bigger crypto laws this year , including a broader bill recently passed by the House of Representatives that aims to organize the entire crypto market more clearly. The future of stablecoins under the GENIUS Act looks significantly more regulated, str...