Genius Act becomes a law, while Trump approved the regulation of cryptocurrency

President Donald Trump signed the lead and establishment of the national innovation for US stable coins (Genius) on Friday.

Before the law had signed, Trump reminded how he had sworn that the USA in a keynote address during a Bitcoin conference in Nashville, Tennessee, in July 2024, to make the “crypto capital of the planet” where he said that his administration of people who love their industry would not hate their industry “.

“I have obliged to bring American freedom and leadership back and make the United States the world of crypta capital,” said Trump on Friday. “And we did that. And under the Trump administration it only goes on.”

Stable coins are a form of digital currency that is bound with a stable asset such as gold or the US dollar, which aims to keep your prices more consistent.

“Just as I promised last year, the ingenious law creates a clear and simple regulatory framework in order to attribute and unleash the immense promise of stable coin from dollar,” said Trump on Friday. “This could perhaps be the greatest revolution in financial technology since the birth of the Internet itself.”

The Genius Act contains provisions that require the public disclosure of the reserve competition every month and the annual conclusions for issuers with a market capitalization of more than 50 billion US dollars, according to the Senate Bank Committee, which cited legislation.

House Passes Bill Maxine Waters called “A complete crypto-Con”

President Donald Trump will come to an signing ceremony for the Genius Act in the Eastern Zimmer of the White House in Washington on Friday, July 18, 2025.

The house passed the genius law on Thursday with a vote of 308–122 after the measure rejected the Senate in June with a lead of 68 to 30 years.

“For far too long, the America's digital asset industry was suppressed by ambiguous rules, the confusing enforcement and antiplus crossing of the bida administration,” said the majority Tom Emmer, R-Minn, during a press conference on Thursday. “But President Trump and this congress correct the course and end America's digital wealth potential with historical, transformative laws.”

Despite the cross -party and support of a large number of Democrats, the legislation has not picked up any votes from all members of the presidential party.

Vance explains “Crypto finally has a champion” in the Trump White House

MP Tom Emmer (R-MN) speaks to the former President of the American President, Donald Trump and the American Senator of the Republican Vice President, JD Vance (R-OH) on July 27, 2024 in St. Cloud, Minnesota, in the Herb Brooks National Hockey Center. (Stephen Maturen/Getty Images)

Twelve Republicans voted against the measure that legislators such as the Rep. Rep. Maxine Waters, D-Calif., D-Calif. In view of the conflicts of interest, when Trump promoted a digital currency called $ Trump.

The Senate passes the symbols of crypto legislation as a banking chair as a “historical day”

“By adopting this law, the congress of the world will say that the congress agrees with corruption, okay with foreign companies that buy influence, and with criminals who buy Trump coins to search for pardon and advantageous treatment,” said Waters on Thursday at the House Floor.

In addition to the Genius Act, the house passed two further measures in connection with the cryptocurrency on Thursday: Digital Asset Market Clarity Act (Clarity Act) in order to install some additional regulatory framework for digital assets, and the anti-CBDC surveillance law, which the Federal Reserve from the digital administration of the central bank (CBDC) directly to the Federal Reserve of Stop the Federal Reserve, and its privacy by the individual and their privacy.

Liz Elkind from Fox News contributed to this report

Rep. Maxine Waters (D-CA) questions Finance Minister Scott Bessent how he appears in Washington in front of the House Financial Services Committee on May 7, 2025.