President Donald Trump signed the first federal bill to regulate stablecoins, hailing it as a “giant step to cement American dominance of global finance and crypto technology” and delivering a major victory for the digital asset industry.

“The Genius Act creates a clear and simple regulatory framework to establish and unleash the immense promise of dollar-backed stablecoins,” Trump said Friday at a White House ceremony. “This could be perhaps the greatest revolution in financial technology since the birth of the internet itself.”