Trump Officially Signs Stablecoin 'GENIUS Act,' the First Cryptocurrency Federal Legislation in History Officially Goes into Effect

BlockBeats News, July 19th, U.S. President Trump officially signed the "Guidance and Establishment of the U.S. Stablecoin National Innovation Act" at the White House, also known as the "Genius Act," marking the first time in history that federal legislation on cryptocurrency regulation has come into effect.

This act has established stricter regulatory standards for stablecoins: issuers need to have 1:1 reserve backing with U.S. dollars and short-term Treasury bonds and disclose the reserve composition monthly. From now on, stablecoins are no longer experimental products in a gray area but are written into U.S. law as a nationally endorsed "official currency tool."