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President Trump Officially Signs Stablecoin <i>GENIUS Act</i>, the First-ever Cryptocurrency Federal Legislation in History Takes Effect
BlockBeats News, July 19, President Trump officially signed the Guidance and Establishment of the US Stablecoin National Innovation Act at the White House, also known as the Genius Act, marking the first time in history that federal legislation on cryptocurrency regulation has officially taken effect.
This act establishes stricter regulatory standards for stablecoins: issuers need to have 1:1 reserve support with US dollars and short-term Treasury bonds and disclose their reserve composition monthly. From now on, stablecoins are no longer experimental products in a gray area but are about to be written into US law as a nationally endorsed "official monetary tool."
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