On July 18, 2025, President Donald Trump signed the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act into law during a ceremony attended by notable cryptocurrency executives. This significant piece of legislation followed challenges in the House of Representatives and Senate. The act aims to establish a regulatory framework for stablecoins that would enhance the United States' position in the global cryptocurrency industry. In his remarks, Trump highlighted the previous underestimation of the crypto community, emphasizing that this legislation serves as validation for its supporters. Key figures in attendance included executives from major firms like Kraken, Gemini, and Coinbase. David Sacks, a prominent advisor to Trump, noted that the GENIUS Act will modernize payment systems and maintain the dominance of the US dollar. Trump also indicated that his support for the crypto sector was partly motivated by the upcoming 2024 elections, suggesting a political dimension to the signing of the bill.

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