Trump Approves Historic Crypto Law
(MENAFN) U.S. President Donald Trump officially enacted a groundbreaking cryptocurrency bill into law on Friday, creating the initial nationwide regulatory structure for stablecoins.
Previously doubtful of digital assets, Trump has recently rebranded himself as a pro-crypto advocate during his second term, encouraging lawmakers to pass rules aimed at enhancing the U.S.'s influence in the virtual currency sector.
"This afternoon, we take a giant step to cement the American dominance of global crypto technology as we sign the landmark GENIUS Act into law. So congratulations to everybody. It's a big deal," he remarked during a signing event at the White House, attended by figures from the crypto sector.
"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. And under the Trump administration, this is only going further, you're going to do really well," he continued.
The GENIUS Act — short for Guiding and Establishing National Innovation for U.S. Stablecoins — was approved by the Senate last month.
It reached Trump’s desk after the House of Representatives passed the measure in a bipartisan 308-122 vote on Thursday.
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