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."
You may also like
Gainers
Latest Crypto News
Trump Suggests Hassett Will Take Over as Fed Chair, Once Again Criticizes Powell for Not Cutting Rates
Coinbase Listing Roadmap Adds 5 New Coins: JUP, PLUME, WET, and More
The crypto market has experienced a rebound with a widespread surge. SUI and PENGU are up over 20%.
Trump Says Fed Chair Should Cut Interest Rates, Reiterates Criticism of Powell
In the past 24 hours, the entire network liquidated $376 million, with the majority coming from the largest short position
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:[email protected]
VIP Services:[email protected]