President Donald Trump will sign a new cryptocurrency bill into law on Friday
Jul 18, 2025, 8:56 AM | Updated: 2:22 pm
President Donald Trump speaks during a meeting with Bahrain's Crown Prince Salman bin Hamad Al Khalifa in the Oval Office of the White House, Wednesday, July 16, 2025, in Washington. (AP Photo/Alex Brandon)
Credit: ASSOCIATED PRESS
(AP Photo/Alex Brandon)
WASHINGTON (AP) 鈥� President Donald Trump on Friday will sign into law a new set of regulations for a type of cryptocurrency that are seen as a way to legitimize the burgeoning industry.
The GENIUS Act sets initial guardrails and consumer protections for stablecoins, a type of cryptocurrency that is tied to a stable asset like the U.S. dollar to reduce price volatility. It passed both the House and Senate with wide bipartisan margins.
The measure is meant to bolster consumer confidence in the rapidly growing crypto sector. Its passage comes as Trump makes it a mission to make the U.S. the 鈥渃rypto capital of the world.鈥�
鈥淐ongratulations to our GREAT REPUBLICANS for being able to accomplish so much, a record, in so short a period of time,” Trump wrote on his social media site Friday morning as he announced the bill signing.
The House also passed two other bills Thursday that are meant to boost the legitimacy of the crypto industry. One creates a new market structure for cryptocurrency, and the other bans the Federal Reserve from issuing a new digital currency. Both measures now go to the Senate.
