Trump Officially Signs the Stablecoin GENIUS Act, Marking the Enactment of the First Federal Cryptocurrency Legislation in History
According to ChainCatcher, U.S. President Trump has officially signed the "Guiding and Establishing the U.S. Stablecoin National Innovation Act," also known as the "Genius Act," at the White House. This marks the first time in history that federal legislation on cryptocurrency regulation has officially come into effect.
The act sets stricter regulatory standards for stablecoins: issuers are required to maintain a 1:1 reserve backing with liquid assets such as U.S. dollars and short-term Treasury bonds, and must disclose the composition of their reserves on a monthly basis. From now on, stablecoins are no longer experimental products in a regulatory gray area, but are about to be written into U.S. law as "official monetary instruments" endorsed by the state.
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