President Donald Trump on Friday signed the first major congressional overhaul of cryptocurrency rules into law, delivering on a campaign promise to boost digital asset firms and cementing the industry’s rise as a force in Washington.
Trump, flanked by Republican lawmakers and crypto industry executives, officially enshrined the GENIUS Act, which creates new rules for so-called stablecoins that are pegged to the value of the dollar.
“This could be perhaps the greatest revolution in financial technology since the birth of the Internet itself,” Trump said of stablecoins. He added that he is “committed to signing landmark crypto market structure legislation this year,” referring to a second, broader crypto measure that the House passed this week.
Trump gave shoutouts to lawmakers including Sen. Bill Hagerty (R-Tenn.), who authored the bill; House Financial Services Chair French Hill (R-Ark.); House Majority Whip Tom Emmer (R-Minn.); and Speaker Mike Johnson. He also recognized industry leaders including Coinbase CEO Brian Armstrong; Circle CEO Jeremy Allaire; and Tether CEO Paolo Ardoino.
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