Bo Hines, executive director of the US President’s Advisory Committee on Digital Assets, announced today that President Donald Trump will sign the most comprehensive regulations in cryptocurrency history.
“This afternoon, President Trump will sign up to Genius Law, the most monumental cryptographic law in American history. In doing so, we are securing dollar sovereignty, unlocking innovation and establishing the United States as a permanent leader in digital finance,” Hines said.
Yesterday, the House overwhelmingly approved the guidelines and establishment of national innovation for the US Stubcoin Act, the country’s first major cryptocurrency regulation. The bill will become official with President Trump’s signature.
The law establishes framework rules for Stablecoin publishers. These digital assets are pinned at $1 and are advertised as a fast and low-cost payment method. The Genius Act requires that Stablecoin issuers secure 1:1 coins each with a low-risk asset, be responsible for state or federal regulatory agencies and implement strict money laundering controls.
In June, Treasury Secretary Scott Bescent announced that he predicted that the regulations could allow the Stubcoin economy to grow from $195 billion to more than $200 trillion.
During his campaign, President Trump promised to make the United States a “cryptocentre of the world.” Following the passage of the Senate bill in June, Trump has called for the House to quickly reach him with the bill “without any additions or amendments.” This request is fulfilled today.
*This is not investment advice.
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