18.07.2025 19:21
Former President Trump's recent signing of the GENIUS Act into law represents a momentous shift in the United States' approach to cryptocurrency regulation. This landmark legislation, enacted on July 18th at the White House, establishes a comprehensive regulatory framework for stablecoins, fundamentally altering their legal standing and paving the way for greater integration within the U.S. financial system.
The Act's significance lies in its creation of standardized rules for stablecoins, particularly those pegged to the U.S. dollar. This clarity is expected to significantly boost confidence among institutional investors, leading to increased adoption and fostering greater operational stability within the U.S. stablecoin market. Facilitated by Bo Hines, head of Trump's Digital Asset Advisory Committee, the GENIUS Act marks a considerable departure from Trump's previously expressed views on cryptocurrencies.
However, the GENIUS Act's passage has not been without controversy. Concerns have been voiced by some political figures, including Representative Marjorie Taylor Greene, who expressed anxieties about the potential for centralized digital currencies and the implications for individual financial freedom. Greene warned of the act's potential to pave the way for a centrally controlled digital currency, raising fears about a cashless society and the weaponization of digital finance by an authoritarian government. This dissent highlights the deeply divided opinions surrounding the future of cryptocurrency regulation in the United States.
Despite this criticism, Trump himself celebrated the bill's passage on Truth Social, characterizing opposing views as unproductive. Furthermore, the GENIUS Act's influence extends beyond U.S. borders, mirroring similar global initiatives such as the EU's MiCA and contributing to a growing international consensus on the legitimacy of the stablecoin industry. The long-term implications of this act for both domestic and global cryptocurrency landscapes remain to be seen, but its passage undeniably marks a turning point.
