The GENIUS Act, introduced by President Donald Trump, aims to strengthen the US position in digital asset regulation and is seen as a strategically important step for the country.
Support for the GENIUS Act
President Donald Trump has secured support from 11 of the 12 congressional members needed to advance the GENIUS Act. This legislation is designed to position the United States as a leader in digital asset development and regulation. Trump confirmed this during a meeting at the White House on July 15, affirming commitments to Congress.
American Strategy in Digital Assets
The legislation aims to maintain US control in the rapidly developing digital asset industry. Trump expresses gratitude to lawmakers for their swift response and urges the entire Republican party to support the initiative. The White House emphasizes the need for clear and strong regulation to enable the US to compete with other countries, such as China and EU member states.
Conclusion and Future Impact
With congressional support nearly secured, the GENIUS Act is likely to be voted on soon. This could signify a strategic pivot in national policy aimed at making America the center of innovation in digital assets.
The conclusions about the support and significance of the GENIUS Act highlight the US's desire to take leadership roles in the regulation and development of digital assets.
