U.S. President Donald Trump on Wednesday endorsed the GENIUS Act, a newly approved Senate bill that aims to create a regulatory framework for stablecoins—digital assets pegged to fiat currencies like the U.S. dollar.
What Is the GENIUS Act?
The GENIUS Act introduces:
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Reserve requirements for stablecoin issuers
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Mandatory monthly disclosures of reserves
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Oversight aimed at enhancing transparency and trust in digital dollar-pegged cryptocurrencies
Trump’s Crypto Pivot
Trump, once skeptical of digital assets, urged the Republican-controlled House to act “LIGHTNING FAST” to pass the bill without amendments:
“Get it to my desk, ASAP — NO DELAYS, NO ADD ONS,” Trump posted on Truth Social.
This marks a pro-crypto shift in U.S. leadership and could give Circle’s USDC and Tether’s USDT more regulatory clarity—potentially bolstering institutional adoption.
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