Trump Signs Historic GENIUS Act: New Cryptocurrency Law Could Reshape Banking and Strengthen US Dollar
The post Trump Signs Historic GENIUS Act: New Cryptocurrency Law Could Reshape Banking and Strengthen US Dollar appeared on BitcoinEthereumNews.com. The legislation creates rules for a $250 billion market and could change how Americans use digital money. President Donald Trump signed the GENIUS Act into law on Friday, July 18, 2025, marking the first major federal regulation of cryptocurrency in the United States. The bill passed the House with strong support from both parties, with 206 Republicans and 102 Democrats voting in favor. After facing some delays earlier in the week from conservative lawmakers, the measure moved forward and now becomes the foundation for regulating stablecoins – digital currencies tied to the US dollar. What the GENIUS Act Actually Does The GENIUS Act, which stands for “Guiding and Establishing National Innovation for US Stablecoins,” sets up clear rules for companies that want to create digital dollars. These stablecoins must be backed one-to-one with real US dollars or Treasury bills, meaning every digital dollar needs a real dollar backing it up. The law creates two paths for regulation. Companies issuing more than $10 billion worth of stablecoins will face federal oversight, while smaller companies can work with state regulators instead. This gives both large banks and smaller fintech companies a way to enter the market. According to the Senate Banking Committee, the law will take effect 18 months after signing, unless federal agencies publish rules sooner. Foreign stablecoin companies have three years to comply with US rules if they want to serve American customers. Banks and Big Tech Companies Can Now Issue Digital Dollars The new law opens doors for traditional banks to create their own digital currencies. Major corporations like Meta, Google, and Home Depot could also issue stablecoins under the federal framework. This represents a major shift from current practice, where banks have been largely shut out of the cryptocurrency market. Banks already follow many of the rules required…
The post Trump Signs Historic GENIUS Act: New Cryptocurrency Law Could Reshape Banking and Strengthen US Dollar appeared on BitcoinEthereumNews.com.
The legislation creates rules for a $250 billion market and could change how Americans use digital money. President Donald Trump signed the GENIUS Act into law on Friday, July 18, 2025, marking the first major federal regulation of cryptocurrency in the United States. The bill passed the House with strong support from both parties, with 206 Republicans and 102 Democrats voting in favor. After facing some delays earlier in the week from conservative lawmakers, the measure moved forward and now becomes the foundation for regulating stablecoins – digital currencies tied to the US dollar. What the GENIUS Act Actually Does The GENIUS Act, which stands for “Guiding and Establishing National Innovation for US Stablecoins,” sets up clear rules for companies that want to create digital dollars. These stablecoins must be backed one-to-one with real US dollars or Treasury bills, meaning every digital dollar needs a real dollar backing it up. The law creates two paths for regulation. Companies issuing more than $10 billion worth of stablecoins will face federal oversight, while smaller companies can work with state regulators instead. This gives both large banks and smaller fintech companies a way to enter the market. According to the Senate Banking Committee, the law will take effect 18 months after signing, unless federal agencies publish rules sooner. Foreign stablecoin companies have three years to comply with US rules if they want to serve American customers. Banks and Big Tech Companies Can Now Issue Digital Dollars The new law opens doors for traditional banks to create their own digital currencies. Major corporations like Meta, Google, and Home Depot could also issue stablecoins under the federal framework. This represents a major shift from current practice, where banks have been largely shut out of the cryptocurrency market. Banks already follow many of the rules required…
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