Trump signs first major crypto bill, the GENIUS Act, into law

image via The Verge

July 18, 2025, 8:00 PM

• •The GENIUS Act establishes a regulatory framework for stablecoins.
• •The bill passed with bipartisan support but faced criticism and warnings.
• •Opponents expressed concerns about potential enrichment and corruption.

President Trump signed the GENIUS Act into law, creating a regulatory framework for stablecoins, marking a win for the crypto industry. The bipartisan bill sets rules for stablecoin issuers, but faces criticism from opponents. Critics, like Elizabeth Warren, warn that the legislation could potentially create avenues for corruption and benefit Trump's family through their crypto ventures. The signing ceremony saw Trump contrasting himself with the Biden administration and highlighting the importance of the crypto community's support.

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