The crypto industry stands on the verge of a significant historical event as U.S. President Donald Trump prepares to sign the GENIUS Act, marking an important milestone for the regulation of digital assets.
Historic Signing of the GENIUS Act
The GENIUS Act, which is the result of a voting process in Congress, is gearing up to be signed by Trump. This event is anticipated to take place on July 18, 2025. The crypto industry is closely monitoring this as the act will represent the first major digital asset regulation to be signed into law by a U.S. president.
Support from Two Leading Market Players
Brian Armstrong, co-founder and CEO of Coinbase, and Jeremy Allaire, co-founder and CEO of Circle, are heading to the White House to witness the signing of the GENIUS Act. Both executives expressed their sentiments regarding the significance of this event in posts on platform X.
Expectations and Significance of the Legislation
The passage of the GENIUS Act received bipartisan support in Congress, evidenced by a 308-122 vote. The overwhelming backing from Democrats affirms the importance of the act for the future of the U.S. financial system. According to Dante Disparte, Circle’s Chief Strategy Officer, the passage of this act will signal a defining moment for the future of money and the online financial system.
The signing of the GENIUS Act will mark a pivotal moment for the crypto industry, paving the way for more responsible regulation and support for innovation in the U.S.
