In a landmark move for the cryptocurrency industry, President Donald Trump signed the GENIUS Act into law on July 18, 2025. This bipartisan legislation introduces regulations and consumer protections for stablecoins—cryptocurrencies backed by traditional assets like the U.S. dollar—to reduce volatility and enhance credibility. The signing ceremony was attended by crypto executives and GOP lawmakers, highlighting the growing influence of the crypto sector in Washington. Trump praised the industry's rapid rise and acknowledged its role in his political success, noting both economic benefits and political gains. His administration has taken steps favorable to crypto, including halting certain SEC enforcement actions.
The GENIUS Act includes a clause barring members of Congress and their families from profiting from stablecoins, but notably excludes the president and his family—despite their financial ties to the crypto project World Liberty Financial. This exclusion has raised questions about potential conflicts of interest. Additionally, the House passed two other pro-crypto bills addressing market structure and prohibiting a Federal Reserve-issued digital currency, now awaiting Senate review. These legislative actions reflect a significant shift in U.S. policy towards embracing cryptocurrency, signaling a new era of digital finance regulation.