US EditionTrump Signs GENIUS Act for Stablecoin Regulation
UNITED STATES, JUL 18 – The GENIUS Act mandates full backing of stablecoins by liquid assets and monthly disclosures to protect consumers and strengthen the U.S. dollar's global reserve role.
- On July 18, President Donald Trump signed the GENIUS Act, marking the first major federal regulation for stablecoins and a milestone for cryptocurrency legitimacy.
- Aligning state and federal frameworks, the GENIUS Act to attract digital asset activity and promote innovation; it boosts demand for U.S. debt and cements the dollar’s reserve status.
- To safeguard users, the Act ensures stablecoin issuers must fully back stablecoins with liquid assets, disclose reserves monthly, and prioritize stablecoin holders in insolvency.
- While supporters celebrated, critics argued the bill lacks strong anti-money laundering protections and limits on foreign issuers.
- Standard Chartered estimated earlier this year that the stablecoin market could expand to US$2 trillion by 2028, while the Act reinforces national security and enables blockchain-powered payments onchain.
62 Articles
62 Articles
Wall Street’s plans for stablecoin, from Goldman to JPMorgan
AP Stablecoin is officially entering the chat. Literally. A few years ago, cryptocurrency was a left-field niche that much of white-collar Wall Street avoided like the plague. Now, banks are racing to catch up. During second-quarter earnings calls, executives at five of the six largest US banks said they’ve either launched stablecoin products or have plans to do so. It’s on the mind of investors and leaders alike because Congress just passed the…
Trump Signs Cryptocurrency GENIUS Act Into Law, Jokes ‘It Was Named After Me’
(Just The News)—President Donald Trump on Friday signed the historic cryptocurrency legislation, dubbed the GENIUS Act, into law, which establishes a regulatory framework for Stablecoins. The signing comes a day after the House passed the legislation in a rare bipartisan move that saw 102 Democrats vote in favor of the bill, alongside 206 Republicans. The bill passed in a 308-122 split. The legislation sets “high standards” for cryptocurrency is…
Capping Crypto Week: All You Need to Know About the Three Crypto Bills Passed by Congress - 🔔 The Liberty Daily
(ZeroHedge)—On Thursday, July 17, capping off what was dubbed “Crypto Week” by Congress, the US House just passed three digital assets related bills. Here is a breakdown of all that was passed: The GENIUS Act: The Senate’s stablecoin bill, by a vote of 308-122. By bringing regulatory clarity to the asset class, the law is expected to stimulate the growth of the stablecoin industry. The GENIUS Act first passed the Senate on June 17 by a vote of 6…
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BizTocWall Street's plans for stablecoin, from Goldman to JPMorgan
APThe GENIUS Act, aimed at regulating digital currency, could allow banks to issue stablecoins.Bank CEOs discussed launching stablecoin products during second-quarter earnings calls this week.Here's what Wall Street leaders like Jamie Dimon and Jane Fraser said about their firms' strategies.Stablecoin is officially entering the chat. Literally.A few years ago, cryptocurrency was a left-field niche that much of white-collar Wall Street avoided li…
Trump signs stablecoin law, pushing for crypto's mainstream adoption
U.S. President Donald Trump on Friday signed a law to create a regulatory regime for dollar-pegged cryptocurrencies known as stablecoins, a milestone that could pave the way for the digital assets to become an everyday way to make payments and move money.The
Trump signs landmark crypto bill into law, establishing stablecoin framework
'I pledged that we would bring back American liberty and leadership and make the United States the crypto capital of the world, and that's what we've done,' says US president - Anadolu Ajansı
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