Donald Trump's Genius Act: Major crypto bill for stablecoins passed in US; here is what to know

President Trump signed the GENIUS Act, a law designed to regulate payment stablecoins and bring legitimacy to the cryptocurrency industry. Officially titled "Guiding and Establishing National Innovation for US Stablecoins," the act establishes regulatory frameworks and consumer protections for stablecoins. It aims to improve consumer confidence and solidify the US as a leader in the crypto space.