GENIUS Act heads to Trump’s desk: Here’s what will change
The stablecoin-regulating GENIUS Act is headed to Donald Trump’s desk, which is expected to shake up how stablecoins operate in the US and abroad.
President Donald Trump is a signature away from enacting a bill to regulate stablecoins that will dictate how issuers of the tokens must be regulated to serve the US market.
The US House passed three crypto bills on Thursday, including the GENIUS Act, a backronym for “Guiding and Establishing National Innovation for US Stablecoins Act.”
The bill originated from the Senate, so it now only needs Trump’s signature to become law, which is expected to take place at 2:30 pm Friday in Washington, DC, during a “signing ceremony,” according to reporter Eleanor Terrett.