President Trump Signs GENIUS Act for Stablecoin Regulation
The post President Trump Signs GENIUS Act for Stablecoin Regulation appeared on BitcoinEthereumNews.com.
Key Points: President Donald Trump signed the GENIUS Act to regulate U.S. stablecoins. New law established compulsory 1:1 asset backing for stablecoins. Bitcoin futures fell by 1.3%, while Ethereum futures rose 16.7%. President Donald Trump officially signed the GENIUS Act on Thursday at the White House, establishing regulatory standards for stablecoins. This marks the first U.S. federal legislation focusing on cryptocurrencies. The GENIUS Act introduces mandatory 1:1 asset backing for stablecoin issuers, defining them as official monetary instruments. Immediate market reactions included a 1.3% drop in Bitcoin futures, contrasting with a 16.7% weekly increase in Ethereum futures. GENIUS Act Enforces 1:1 Asset Backing for Stablecoins U.S. President Donald Trump signed the GENIUS Act at the White House, introducing regulatory oversight for USD-backed stablecoins. The legislation emerged after extensive congressional discussions, setting new standards for stablecoin issuers. According to crypto journalist Eleanor Terrett, the act aligns U.S. digital asset regulation with global standards by requiring stablecoins to be backed 1:1 with liquid reserves. This regulation seeks to enhance financial transparency and security within the crypto market, potentially affecting institutional stablecoin issuers like USDT, USDC, and DAI. Bitcoin futures fell 1.3%, while Ethereum surged 16.7%, reflecting diverse market sentiment. Senator Tim Scott hosted a concurrent roundtable, reinforcing the legislative focus on comprehensive digital asset compliance. Historic U.S. Legislation May Boost Institutional Participation Did you know? The GENIUS Act is the first comprehensive U.S. federal law governing stablecoins, creating a regulatory framework previously addressed at agency levels. This historic legislation now aligns national regulatory standards with global norms. Tether USDt (USDT), currently priced at $1.00, holds a market cap of $160.93 billion, with a daily trading volume shifting 1.02% to $156.10 billion, as reported by CoinMarketCap. Despite minimal short-term price change, Tether’s broad impact remains significant. Coincu analysis suggests potential market stabilization through…
