What new crypto law could do, stablecoins explained
After some political wrangling, three crypto bills favored by President Donald Trump received key support on Capitol Hill this week, with one of them signed into law on Friday afternoon. Flush with enthusiasm amid the bills’ imminent passage, investors have lifted the three major crypto tokens — bitcoin, ether and ripple — to all-time highs. Bitcoin is now the best-performing major asset in the world this year, having climbed nearly 30%, outpacing gold and the tech-heavy Nasdaq Composite stock index.
The effects of the bills are not immediate, but they will fuel crypto’s evolution from a niche, fringe corner of the economy into the mainstream — for better or much, much worse — depending on whom you ask.
The GENIUS Act
The…
