19.07.2025 05:11
The United States has entered a new era in cryptocurrency regulation. Following President Trump's signing of the GENIUS Act, the country boasts its first major federal legislation specifically addressing the crypto space. This landmark bill provides much-needed regulatory clarity for significant stablecoin issuers, including Tether, Circle, and Ripple, ending years of uncertainty and a largely enforcement-based regulatory approach.
A White House ceremony formalized the GENIUS Act's passage into law, a momentous occasion for the cryptocurrency industry. This decisive action, occurring just one day after the House of Representatives' approval alongside the CLARITY and Anti-CBDC Acts, demonstrates significant bipartisan support, with 308 representatives voting in favor. The GENIUS Act's overwhelming approval contrasts sharply with the previous administration's regulatory ambiguity and the Securities and Exchange Commission's (SEC) aggressive enforcement actions against prominent crypto firms.
Crucially, the GENIUS Act mandates 100% reserve backing for stablecoins, explicitly outlining the obligations of issuers. President Trump, during the signing ceremony, proclaimed the bill a strategic victory for the United States, asserting it will propel the nation to global leadership in cryptocurrency technology, surpassing both China and Europe. This confident assertion underscores the administration's belief in the Act’s transformative potential.
While the GENIUS Act addresses stablecoins, the focus now shifts to the CLARITY and Anti-CBDC Acts. These bills, pending Senate approval before reaching the President's desk, hold significant implications for the future of cryptocurrency regulation in the US. Positive reactions to the GENIUS Act's signing, like Senator Cynthia Lummis's celebratory X post, highlight the widespread anticipation surrounding further legislative developments. The passage of the GENIUS Act marks a significant turning point, yet the journey towards comprehensive crypto regulation within the United States is far from over.
