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Trump Signs GENIUS Act: A Big Win for Dollar-Backed Stablecoins
Today, July 18, 2025, President Donald Trump made history by signing the GENIUS Act into law at a White House ceremony. This is the first major federal bill focused on cryptocurrency in the U.S. The law sets up rules for stablecoins, which are digital currencies backed by the U.S. dollar. Trump called it a “giant step to cement American dominance of global finance” and joked that the name GENIUS stands for “Guiding and Establishing National Innovation for U.S. Stablecoins”—and maybe a nod to himself.
This move is seen as a huge victory for the crypto industry, which has been pushing for clearer rules to go mainstream.
This move is seen as a huge victory for the crypto industry, which has been pushing for clearer rules to go mainstream.
What are stablecoins? They’re like digital dollars. Unlike wild cryptocurrencies like Bitcoin that go up and down in value, stablecoins are “stable” because they’re tied one-for-one to real money, like the U.S. dollar or short-term government bonds. Popular ones include USDT (Tether) and USDC (Circle’s coin), which together hold over $225 billion in value.
People use them for quick online payments, trading other cryptos, or even sending money abroad without high fees. But until now, there weren’t strong federal laws overseeing them, leading to worries about scams, money laundering, or if they’re really backed by enough cash.
People use them for quick online payments, trading other cryptos, or even sending money abroad without high fees. But until now, there weren’t strong federal laws overseeing them, leading to worries about scams, money laundering, or if they’re really backed by enough cash.
The GENIUS Act changes that. It creates a framework where banks and financial companies can issue these stablecoins safely. Key rules include: issuers must hold at least one dollar in reserves for every stablecoin they make, get audited every year, and follow anti-money laundering laws.
They also have to freeze or destroy coins if needed for legal reasons. The law lets states regulate smaller issuers while the federal government watches bigger ones. Trump said this will “unlock immense promise” for dollar-backed stablecoins and help keep the U.S. dollar as the world’s top currency.
He even hinted at opposing central bank digital currencies (CBDCs), calling them a threat to freedom.This signing caps off a “Crypto Week” in Washington. The House passed the bill with bipartisan support earlier this week, and it zoomed to Trump’s desk.
Crypto leaders like Coinbase’s Brian Armstrong, Kraken’s Dave Ripley, and the Winklevoss twins (from Gemini) attended the event, cheering it on.
The market reacted fast—Bitcoin hit new highs, Ether and Solana jumped, and the whole crypto market cap topped $4 trillion.
Experts say this could bring in big players like retailers or even let people put crypto in their 401(k) retirement plans soon.
On the web, news outlets are buzzing. Reuters called it a step toward mainstream adoption, but warned it might limit competition or raise surveillance concerns. Continued after clip below
They also have to freeze or destroy coins if needed for legal reasons. The law lets states regulate smaller issuers while the federal government watches bigger ones. Trump said this will “unlock immense promise” for dollar-backed stablecoins and help keep the U.S. dollar as the world’s top currency.
He even hinted at opposing central bank digital currencies (CBDCs), calling them a threat to freedom.This signing caps off a “Crypto Week” in Washington. The House passed the bill with bipartisan support earlier this week, and it zoomed to Trump’s desk.
Crypto leaders like Coinbase’s Brian Armstrong, Kraken’s Dave Ripley, and the Winklevoss twins (from Gemini) attended the event, cheering it on.
The market reacted fast—Bitcoin hit new highs, Ether and Solana jumped, and the whole crypto market cap topped $4 trillion.
Experts say this could bring in big players like retailers or even let people put crypto in their 401(k) retirement plans soon.
On the web, news outlets are buzzing. Reuters called it a step toward mainstream adoption, but warned it might limit competition or raise surveillance concerns. Continued after clip below
For every digital dollar there will be a traditional dollar in a us bank account
ABC News highlighted how it expands oversight to prevent misleading claims, like saying stablecoins are government-backed.
The Globe and Mail pointed out an irony: while crypto fans want to escape the dollar, this law actually strengthens it by tying more stablecoins to USD.
Critics, like Democrat Maxine Waters, worry it could let sanctioned foreign groups in or benefit Trump’s inner circle, since the law doesn’t block the president or family from profiting.
But overall, sites like Bloomberg and Yahoo Finance see it as a “massive validation” for crypto, making the U.S. the “crypto capital of the world.”
Over on X (formerly Twitter), the reaction is electric. Users are posting memes and hype. One post from @LadyofCrypto1m talked about altcoin seasons, but a reply worried Trump might “mess up” with tariffs or give himself a monopoly on stablecoins.
@BreakingNews4X shared a video of the signing, calling it a “huge win” for crypto. Spanish-speaking user @abramiaquino
threaded about how this ends the “wild west” era of crypto and starts a regulated one, with winners like regulated exchanges and losers like unbacked projects.
@RuslanVolkov25 hyped it as “AI takes the wheel,” linking to platforms ready for the change.
Trump fans like @JoeyMannarinoUS quoted his joke about the name, saying “It’s impossible to hate this man.”
Even @BTC_Archive noted Trump’s words: “The stablecoin bill is a massive validation for crypto.” Posts from @YahooFinance echoed the web buzz, with thousands of views.
Why does this matter? Stablecoins handle billions in trades daily and could change how we pay for things, like online shopping or international aid. By regulating them, the U.S. aims to lead in digital finance, beating out rivals like China.
But some fear too much control could stifle innovation or invade privacy. Trump pushed this as part of his second-term agenda, after vetoing a crypto tax law earlier.
It’s a shift from past years when crypto was seen as shady—now it’s getting the government’s stamp.This law could pump more money into crypto, but it’s not without risks. As one X user put it, “The game will never be the same.”
For high schoolers interested in tech or money, this shows how digital currencies are becoming real-world tools. Keep watching—crypto’s future just got a lot brighter under these new rules.
Links
- Trump signs landmark GENIUS Act, hailing “exciting new frontier” for …
- Trump signs stablecoin law as crypto industry aims for … – Reuters
- Trump signs 1st major federal cryptocurrency bill into law – ABC News
- Trump signs stablecoin bill into law, capping string of ‘Crypto Week …
- Trump Signs Landmark Stablecoin Legislation into Law
- Trump Signs Stablecoin Bill, Delivering Win for Crypto Industry
- ‘Put up or shut up’: Big win in Congress to test crypto’s viability
- Trump signs GENIUS Act for stablecoin regulation – UPI.com
- The crypto irony: Trump’s new laws for stablecoins will only reinforce …
- Stablecoins get a big boost as Trump signs the Genius Act. Here’s …
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