GENIUS Act becomes law as Trump approves cryptocurrency regulation

President Donald Trump signed the law to guide and create the national innovation of the United States Law (Genius) on Friday – a historical legislation that defines the federal regulations surrounding the digital currency.

Before signing the draft law, Trump recalled how he previously pledged to make the United States “the planet’s encryption capital” during a major speech during the Bitcoin Conference in Nashville, Tennessee, in July 2024, where he said that the regulations that his administration will implement “will be” by people who love your industry, and do not hate your industry. ”

“I pledged to restore the American freedom and leadership and make the United States the capital of encryption in the world,” Trump said on Friday. “This is what we did. Under the Trump administration, this only exceeds.”

Stablecoins is a form of digital currency associated with a stable origin such as gold or US dollar, which aims to maintain their prices more consistent.

Trump said on Friday: “As I promised last year, the genius law creates a clear and simple regulatory framework for creating and unleashing the tremendous promise of stablecoin supported by dollars,” Trump said on Friday. “This may be the greatest revolution in financial technology since the birth of the Internet itself.”

The genius law included provisions that require the monthly public disclosure of the reserve competition, in addition to the annual financial statements of exporters who are more than $ 50 billion in the market value, according to the Senate Banking Committee, which led the legislation.

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President Donald Trump arrives at a signing ceremony for the Genius Law in the Eastern Chamber of the White House in Washington, July 18, 2025.

On Thursday, the House of Representatives passed the Genius Act, voting 308-122, after the procedure cleared the Senate in June, 68-30.

“For a very long time, the digital assets industry in America has been strangled through mysterious rules, its enforcement, and the fight against the Biden administration,” Tom Emmar, a majority of Tom Amir, told a press conference on Thursday. “But President Trump and congress correct the path and unleash the potential of digital assets in America with transformational historical legislation.”

Despite the two parties and support from a group of Democrats, the legislation did not get votes from all members of the President’s party.

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Representative Tom Emir (R-Mn) speaks in a gathering that includes the US Republican Presidential candidate Donald Trump and the Republican Presidency of the American Senator C. (Stephen Rottern/Getty Emiez)

Twelve Republicans voted against this measure, which attracted the audit of legislators, such as a member of the Financial Services Committee in the House of Representatives, Representative Maxine Waters, extending California, due to concerns that contradict the conflict, as Trump strengthened a digital currency called $ Trump.

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“By passing this draft law, the World Congress will tell that Congress is fine with corruption, well with foreign companies that buy influence, and agree with criminals who buy Trump currencies to search for pardon and useful treatment.”

In addition to the genius law, the House of Representatives passed two other measures related to encrypted currencies on Thursday: the law of the digital assets market (the clarity law) to install some of the additional regulatory framework for digital assets, and the CBDC control law, which aims to stop the Federal Reserve of the Central Bank (CBDC) directly to individuals and J. J.

Liz Elkend in Fox News contributed to this report

Deputy Maxine Waters, Treasury Secretary Scott Payet, as well as before the Financial Services Committee in the House of Representatives on May 7, 2025, in Washington.