Trump to Sign GENIUS Act, Establishing US as Crypto Leader

Bo Hines, the Executive Director of the U.S. Presidential Advisory Council on Digital Assets, made a significant announcement today. He revealed that President Donald Trump will sign into law the most comprehensive regulation in cryptocurrency history. This legislation, known as the GENIUS Act, is set to be the most monumental crypto legislation in American history. Hines emphasized that this move will secure the sovereignty of the dollar, unlock innovation, and establish the United States as a permanent leader in the future of digital finance.

Yesterday, the House of Representatives overwhelmingly approved the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, marking the first major cryptocurrency regulation in the country. The bill is expected to become official upon President Trump's signature, which is anticipated to occur later today.

The GENIUS Act establishes framework rules for stablecoin issuers. These digital assets, which are pegged to $1, are promoted as fast and low-cost payment methods. The legislation mandates that stablecoin issuers collateralize each coin 1:1 with low-risk assets, be accountable to state or federal regulatory bodies, and implement strict anti-money laundering controls. This regulation aims to provide a robust framework for the stablecoin economy, ensuring transparency and security.

In June, Treasury Secretary Scott Bessent predicted that the stablecoin economy could grow from $195 billion to over $2 trillion thanks to this regulation. This forecast underscores the potential impact of the GENIUS Act on the cryptocurrency landscape, positioning the United States as a global leader in digital finance.

President Trump has consistently expressed his commitment to making the US the “crypto center of the world.” Following the Senate's passage of the bill in June, Trump requested that the House deliver the bill to him immediately, “without any additions or amendments.” This request is being fulfilled today, highlighting the administration's urgency in implementing this groundbreaking legislation.