Trump Signs Stablecoin Crypto Bill
The self-diagnosed “very stable genius” has, fittingly, signed into law the GENIUS Act, which introduces (very loose, industry-friendly) regulations for the operation of stablecoins—cryptocurrencies pegged to assets like the US dollar. During the press conference and signing ceremony for the bill, Trump got quite transparent about his relationship with the crypto community, telling them, “I got you guys out of so much trouble.”
Trump’s comments, made over the weekend, show quite the prescience, seeing as Fortune reported on Tuesday that the Justice Department has dropped a probe into Jesse Powell, the founder of cryptocurrency exchange Kraken. Powell had his home raided by the FBI…
