US President Donald Trump has officially signed the GENIUS Act, introducing new regulations for stablecoins and suggesting growth for the crypto industry.
Signing of the GENIUS Act
President Trump has officially signed the GENIUS Act, marking a significant step for stablecoin regulation. This legislation provides a clear legal framework for US-based stablecoins, aiming to enhance transparency and boost investor confidence.
Key Provisions of the Bill
The GENIUS Act requires stablecoins to have 100% reserve backing with US dollars or short-term Treasuries. It also mandates regular public disclosures of reserves, which promotes transparency and consumer protection in the market.
Impact on Financial Markets
The signed legislation will impact financial markets, especially stablecoins like USDC and USDT, and will indirectly influence Bitcoin and Ethereum. This move positions the US as a leader in digital innovation and may attract greater capital inflows into the crypto sector.
The GENIUS Act marks an important step toward regulating the crypto industry in the US, which may lead to improved technological adoption and greater trust in stablecoins.
