Donald Trump Signs Landmark GENIUS Act, Setting Historic Stablecoin Rules
2025-07-19 13:14:26
Main Idea
US President Donald Trump signed the GENIUS Act, establishing clear regulatory rules for stablecoins in the US, including capitalization requirements and restrictions on foreign companies.
Key Points
1. The GENIUS Act sets requirements for fully backing stablecoins with capitalization exceeding $50 billion and prohibits payments to foreign companies in the sector.
2. The bill was passed alongside two other digital asset-related acts, the CLARITY Act and the Anti-CBDC Act.
3. Industry leaders, including Gemini co-founders and Circle CEO, attended the signing ceremony, with Trump emphasizing the Act's role in affirming the crypto community.
4. The GENIUS Act will take effect either six months or 120 days after regulators issue implementation rules.
5. Tether's USDT dominates the stablecoin market with a $161 billion capitalization, while Circle's USDC has reached nearly $65 billion.
Description
US President Donald Trump has signed the GENIUS Act, which sets clear rules for stablecoins and represents the first significant regulation of the crypto industry in the United States. On July 17, the bill was approved by the House of Representatives. That day, lawmakers passed three bills related to digital assets, including the CLARITY Act and the Anti-CBDC Act. The GENIUS Act establishes requirements for fully backing stablecoins with liquid assets and mandates annual audits for issuers whose...
Latest News
- XRP Rockets 277% vs BTC in a Year as Ripple CEO Applauds GENIUS Act Win2025-07-21 09:22:14
- GENIUS Act Stops Tech Giants From Taking Over Crypto2025-07-21 09:05:20
- Michael Saylor Again Signals New Bitcoin Purchase2025-07-21 05:42:56
- Bitcoin Exchange CoinDCX Lost $44 Million Due to Hack2025-07-21 01:56:47
- XPMarket Launches XRP & RLUSD Reserve to Strengthen DeFi Trust2025-07-20 21:14:23