Trump signs the GENIUS Act, the United States welcomes its first federal Crypto Assets legislation.

On July 19, U.S. President Donald Trump officially signed the "Guidance and Establishment of the United States Stablecoin National Innovation Act," known as the "GENIUS Act," becoming the first federal legislation in U.S. history to officially take effect regarding Crypto Assets regulation.

It is worth noting that this landmark legislation brings unprecedented changes to the stablecoin industry. The bill not only marks the first time the United States has established a national regulatory framework for stablecoins but also signifies that stablecoins are moving from the gray area into the fringes of the mainstream financial system.

The passage of the "GENIUS Act" benefited from bipartisan consensus, receiving support from nearly half of the Democratic lawmakers and a vast majority of the Republican lawmakers. At the signing ceremony, Trump emphasized that this is an affirmation of the spirit of innovation, which not only strengthens the position of the US dollar but is also beneficial to the nation and its people.

The new bill requires stablecoin issuers to fully back their coins with highly liquid assets such as US dollars and short-term government bonds, and to publicly disclose the asset composition every month. This transparency in regulation will enhance market confidence and promote broader adoption of stablecoins by banks, retailers, and consumers.

This legislation has not only had a profound impact on the U.S. crypto assets industry but has also sparked widespread discussions globally. Major financial centers such as Hong Kong and the European Union are also accelerating their efforts in the stablecoin sector, ushering in a reshaping of the global stablecoin landscape. However, the bill faces some criticisms, such as the lack of restrictions on tech giants issuing their own stablecoins, which may exacerbate the risk of industry monopolies, as well as insufficient anti-money laundering measures.

Overall, the signing of the "GENIUS Act" has injected legitimacy into the stablecoin industry, paving the way for digital assets to become everyday payment tools, while also sparking widespread discussion about future market competition and regulatory directions.

#GENIUS法案 # Trump #Stablecoin