Ripple CEO Brad Garlinghouse noted the signing of the GENIUS Act, which establishes federal rules for stablecoins and expresses industry support.
Signing of the GENIUS Act
Garlinghouse praised President Donald Trump for signing the GENIUS Act, now officially enacted. The law introduces the first federal oversight for stablecoins in the U.S. Although he was not physically present at the signing ceremony, he confirmed the Ripple team was present.
Industry Response
Ripple's Chief Legal Officer Stuart Alderoty responded to the new law with excitement, calling it a long-awaited breakthrough for digital asset innovations. He highlighted that this legislation provides legal assurance for market participants in the rapidly growing crypto economy. Other industry leaders also supported the bill, emphasizing its role in stabilizing the U.S. dollar.
Trump's Changing Attitude Towards Cryptocurrencies
Trump's decision to approve the GENIUS Act marks a shift from his previous skepticism toward cryptocurrencies. This new understanding brings confidence to industry players, who can now operate under more defined legal frameworks.
The signing of the GENIUS Act signifies a new chapter in Ripple's relationship with federal regulators and opens new opportunities for the development of the crypto industry in the United States.
