President Trump signed the GENIUS Act, which regulates stablecoins, facilitating their use as a means of payment.
Liviu Brăteanu
International
Credit: Anna Wilding / SplashNews.com / Splash / Profimedia
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The GENIUS Act, passed by Congress, regulates stablecoins, requiring them to be backed by liquid assets. Trump has said the measure will strengthen the dollar's status as a global reserve currency. Critics warn the law does not include sufficient anti-money laundering protections and allows foreign issuers to participate. The crypto industry could grow significantly and some US banks are considering expanding into the sector.
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