Donald Trump signs stablecoin bill into law
2025-07-18 19:48:18
Main Idea
US President Donald Trump signed the GENIUS Act into law, marking a significant step in cryptocurrency regulation and acknowledging the support of key crypto industry figures.
Key Points
1. Trump signed the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, one of the first bills related to cryptocurrency regulation.
2. Several high-profile crypto executives attended the signing event, including leaders from Kraken, Gemini, Coinbase, Circle, Tether, and Robinhood.
3. Trump acknowledged the crypto industry's contributions and support, stating the signing validated their work and pioneering spirit.
4. The GENIUS Act aims to establish a regulatory framework for stablecoins and promote innovation in the US financial system.
5. The event highlighted the growing intersection between cryptocurrency and traditional politics, with Trump noting his support for the industry in part for electoral reasons.
Description
Several C-suite executives from cryptocurrency companies attended the Friday event, some of whom directly contributed to Trump’s 2024 campaign.
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