President Donald Trump signed into law the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act — a landmark piece of legislation that establishes federal regulations surrounding digital currency.
The House passed the GENIUS Act Thursday by a 308–122 vote, after the measure cleared the Senate in June by a 68–30 margin.
"For far too long, America’s digital assets industry has been stifled by ambiguous rules, confusing enforcement and the Biden administration’s anti-crypto crusade," Majority Whip Tom Emmer, R-Minn., said during a press conference Thursday. "But President Trump and this Congress are correcting course and unleashing America’s digital asset potential with historic, transformative legislation."
Despite the bipartisanship and support from a host of Democrats, the legislation didn’t pick up votes from all members of the president’s party.
VANCE DECLARES 'CRYPTO FINALLY HAS A CHAMPION' IN TRUMP WHITE HOUSE
Rep. Maxine Waters (D-CA) questions Treasury Secretary Scott Bessent as he appears before the House Financial Services Committee on May 7, 2025, in Washington.
Diana Stancy is a politics reporter with Fox News Digital covering the White House.
https://www.foxnews.com/politics/trump-vows-make-us-crypto-capital-planet-signs-genius-act-law