Trump Signs GENIUS Act, Launching First US Stablecoin Rules – Crypto News – Crypto News
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Trump Signs GENIUS Act, Launching First US Stablecoin Rules Trump Signs GENIUS Act, Launching First US Stablecoin Rules

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Trump Signs GENIUS Act, Launching First US Stablecoin Rules – Crypto News

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President Donald Trump on Friday signed the GENIUS Act, the United States’ first federal law dedicated to regulating dollar-pegged cryptocurrencies known as stablecoins

President Donald Trump on Friday signed the GENIUS Act, the United States’ first federal law dedicated to regulating dollar-pegged cryptocurrencies known as stablecoins. The measure establishes a licensing regime for issuers and gives federal agencies clear oversight powers, marking the digital-asset industry’s most significant legislative win to date.

Passed in the House by 308 to 122, the law requires stablecoins to be fully backed by liquid assets such as cash or short-term Treasury bills and mandates monthly public disclosure of those reserves. The rules aim to assure consumers that tokens maintain their one-to-one dollar peg and to curb the kind of opaque practices that have rattled crypto markets in recent years.

Supporters say the framework could accelerate mainstream adoption of stablecoins for everyday payments and remittances. CoinGecko values the existing stablecoin market at about $260 billion, while Standard Chartered projects it could swell to $2 trillion by 2028 under a transparent regulatory regime. The asset-backing requirement is also expected to increase demand for short-term U.S. government debt as issuers accumulate Treasury bills.

Critics, including several Democratic lawmakers, argued the legislation should have imposed tougher anti-money-laundering safeguards and limited large technology firms’ ability to issue their own tokens. The White House countered that the act strikes a balance between innovation and oversight, positioning the United States as a leading jurisdiction for digital-asset regulation.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

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