US president Donald Trump signed one of the first bills related to the crypto and blockchain of his law administration on Friday after delays due to debates in the House of Representative and Senate.
At a ceremony on Friday’s signing Attend many cryptocurrency company executives and high -ranking Republicans, including Vice President JD Vance and House Speaker Mike Johnson, Trump signed The guide and establishment of national innovation for US Stablecoins (Genius) acts in law.
The President recognized the support of many crypto numbers to attend, including Kraken Co-Ceo David Ripley, Gemini co-founders Cameron and Tyler Winklevoss, Coinbase CEO Brian Armstrong, Circle CEO Jeremy Allaire, Tether CEO Paolo Ardoino and Robinood CEO Vladimir Tenev.
“The whole crypto community, for years, you are playing and deleted and counted, you count a little a year and a half ago, but this signing is a tremendous validation (…) of your effort and your pioneer spirit,” Trump said, reading prepared comments.
David Sacks, Ai and Crypto Czar by Trump, added:
“This Genius Act will open American dominance in the crypto industry by creating road crypto policies, it will update archaic payment metals with a revolutionary new payment system, and it will expand the dominance of the US dollar (…) worldwide by creating a digital dollar that people around the world can use.”
The President used his platform to summarize the initiatives introduced since January in response to demands from the crypto industry, including the Pardoning Silk Road Founder Ross Ulbricht, who founded a national bitcoin (Btc) Reserve, and appointed Paul Atkins to lead the US Securities and Exchange Commission (SEC). Trump said he supported the industry in part “for votes” in 2024.
The SEC Chair Paul S. Atkins said in a statement that “Blockchain and Crypto asset technologies have the potential to change American financial infrastructure and deliver new efficiency, cost reduction, transparency, and risk reduction for the benefit of all Americans.
Making sure the US is the best and most safe place in the world to invest and make the business require clear road policies that allow market participants to adopt emerging technologies with confidence. “
Related: Genius Act heads to Trump’s desk: Here’s what will change
This is a story development, and further information will be added as it is available.
