GENIUS Act signed - first major pro-crypto legislation benefiting Trump holdings
Trump signed GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) July 18, 2025, first major crypto law passed by Congress (House 308-122, Senate 68-30). Establishes federal stablecoin framework requiring 100% reserves (cash/ Treasuries), Bank Secrecy Act compliance. Trump’s World Liberty Financial issued USD1 stablecoin, though bill bars officials issuing stablecoins during service. Ian Katz called it “Good Housekeeping seal” for crypto industry.
Key Actors
Sources (4)
- Trump signs landmark GENIUS Act, hailing 'exciting new frontier' for crypto (2025-07-18)
- GENIUS Act for Stablecoins Passes House on Way to be First Major U.S. Crypto Law (2025-07-17)
- A 'Crypto Week' win: Congress passes 1st major crypto legislation in the U.S. (2025-07-17)
- Congress Passes GENIUS Act: Landmark Framework for Payment Stablecoins (2025-07-18)
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