However, as Congress moves on to debate a second bill that would create regulations around cryptocurrencies and exchanges, critics warn that the passage of stablecoin legislation

In a landmark victory for the crypto industry, President Donald Trump signed the GENIUS Act into law, establishing a regulatory framework for a type of digital currency known as stablecoins.

President Donald Trump signed the first federal bill to regulate stablecoins, hailing it as a “giant step to cement American dominance of global finance and crypto technology” and delivering a major victory for the digital asset industry.