Trump officially signed the stablecoin bill "GENIUS Act," marking the formal enactment of the first federal legislation on cryptocurrency in history

2025-07-19 07:59:26

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ChainCatcher news, according to CCTV News, U.S. President Trump officially signed the "Guidance and Establishment of the United States Stablecoin National Innovation Act" (GENIUS Act) at the White House, marking the implementation phase of U.S. stablecoin regulatory legislation. In his speech, Trump stated that he has signed an executive order to establish a federal "Strategic Bitcoin Reserve" and a "National Digital Asset Reserve," and reiterated that "a central bank digital currency (CBDC) will never be allowed in the United States."

The bill passed the House of Representatives on July 17 with a vote of 308 in favor and 122 against, aiming to establish a regulatory framework for stablecoins pegged to the U.S. dollar. However, the bill has also sparked controversy, with some Democratic lawmakers arguing that it fails to adequately protect consumer rights, national security, and financial stability, and questioning the potential conflicts of interest between the Trump family and the cryptocurrency industry.

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U.S. Cryptocurrency Legislation and Policy Trends

The U.S. Congress is reviewing several bills related to cryptocurrency, aimed at clarifying the legal status and regulatory framework of cryptocurrencies. Meanwhile, regulatory agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are also actively issuing guidance and regulatory measures to ensure the transparency and legality of the cryptocurrency market. This topic will track these developments.

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