Trump signs GENIUS Act to revolutionize cryptocurrency regulation

In the United States, President Donald Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act into law on July 17, 2025. This landmark legislation is designed to establish a federal regulatory framework for digital currencies, specifically targeting the stablecoin market valued at approximately $250 billion. Trump previously emphasized his ambition to make the U.S. the leading global hub for cryptocurrencies, pledging to create industry-friendly regulations that align with the interests of digital asset proponents. The GENIUS Act aims to provide clarity in a sector previously hindered by vague rules and inconsistent enforcement. It mandates monthly public disclosures of reserve competitions and require annual audits for issuers exceeding a $50 billion market capitalization. The Act drew bipartisan support, passing the House of Representatives with significant majorities and positioning itself as a countermeasure to perceived anti-crypto policies under the Biden administration. Despite the support from numerous Congress members, the act faced dissent from some lawmakers. Criticism centered around potential conflicts of interest, notably from House Financial Services Committee Ranking Member Rep. Maxine Waters, who voiced concerns over the implications of Trump's promotion of a digital currency linked to him. The 12 Republicans who voted against the legislation further highlighted divisions within the party regarding cryptocurrency regulation. The passage of the GENIUS Act signals a pivotal moment for the crypto industry in America, embracing a future where digital currencies may be increasingly integrated into the traditional financial system. Supporters of the bill, including members of Congress and advocates from the crypto community, view it as a necessary evolution towards mainstream acceptance and operational stability for digital assets.