On Friday, President Trump enacted new regulations for cryptocurrency, representing a significant advancement in legitimizing the crypto-trading sector.
In the White House East Room, flanked by Republican lawmakers and leaders from the crypto industry, Trump endorsed the Genius Act, fulfilling one of his primary legislative goals.
“With today’s signing, we are advancing further into this exciting new frontier. As I promised last year, the Genius Act establishes a clear and straightforward regulatory framework to unlock the vast potential of dollar-backed stablecoins,” Trump stated during the signing event.
Stablecoins are a category of cryptocurrency intended to preserve a stable value by linking their worth to a more reliable asset, such as the U.S. dollar or commodities like gold.
