Trump Signs GENIUS Act into Law with Crypto Executives in Attendance
US President Donald Trump signed the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act into law, marking a pivotal moment for cryptocurrency regulation. The Friday ceremony included prominent crypto industry leaders and Republican officials, underscoring growing political support for digital assets.
Key Participants and Reactions
Attendees featured top executives from major crypto firms including Kraken‘s David Ripley, Gemini‘s Winklevoss twins, Coinbase‘s Brian Armstrong, and Circle‘s Jeremy Allaire. President Trump praised the crypto community’s perseverance, stating: “This signing validates your years of pioneering work in an often-skeptical environment.”
GENIUS Act Implications
The legislation establishes the first comprehensive U.S. framework for stablecoin oversight. It aims to:
- Modernize financial infrastructure with blockchain technology
- Strengthen dollar dominance through digital currency initiatives
- Provide regulatory clarity for crypto businesses
David Sacks, Trump’s crypto advisor, noted the act positions America to lead in financial innovation.
Broader Regulatory Context
The signing follows several pro-crypto administration actions, including the Silk Road founder’s pardon and plans for a national Bitcoin reserve. SEC nominee Paul Atkins emphasized blockchain’s potential to enhance financial system efficiency and transparency.
