Trump signs law to create regulatory regime for stablecoins, a huge win for crypto backers
U.S. President Donald Trump on Friday signed a law to create a regulatory regime for U.S.-dollar-pegged cryptocurrencies known as stablecoins, a milestone that could pave the way for the digital assets to become an everyday way to make payments and move money.
The GENIUS Act passed by a vote of 308 to 122, receiving support from nearly half the Democratic members and most Republicans in the House of Representatives. It had earlier been approved by the U.S. Senate.
The law is a huge win for crypto supporters, who have long lobbied for such a regulatory framework in a bid to gain greater legitimacy for an industry that began in 2009 as a digital Wild West famed for its innovation and speculative chaos.
“This signing is a massive validation…
