What’s a stablecoin? Crypto industry wins with new House vote
The Republican-controlled House on Thursday passed landmark legislation to regulate stablecoin in a big win for the cryptocurrency industry.
Bitcoin at all-time high as lawmakers focus on pro-crypto legislation
President Donald Trump, once a crypto skeptic, has become a major promoter of the industry.
Scripps News
- The GENIUS Act creates a regulatory framework for stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar.
- Advocates say the bill will protect consumers.
- Democrats have raised concerns about President Trump’s financial ties to the crypto indusry.
- Trump last year launched World Liberty Financial, which issued a U.S. dollar-backed stablecoin, and raised raised $550 million selling a different crypto…
