The law on engineering becomes the law while Trump approves the regulation of cryptocurrencies
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Friday, President Donald Trump signed the law on the law on the orientation and creation of national innovation of the Stablescoins (engineering) law – historical legislation which establishes federal regulations surrounding the digital currency.
Before signing the bill, Trump recalled how he had already promised to make the “cryptographic capital of the planet” in the United States during an opening speech during a Bitcoin conference in Nashville, Tennessee, in July 2024, where he declared that the regulations that his administration will implement would be “written by people who love your industry, do not hate your industry”.
“I promised that we bring back American freedom and leadership and that we would make the United States the world capital of cryptography,” Trump said on Friday. “And that’s what we did. And under the Trump administration, it only goes further.”
President Donald Trump pronounces remarks during a signature ceremony for the “Genius Act” in the east house of the White House on July 18, 2025, in Washington.
Stablecoins are a form of digital currency linked to a stable asset such as gold or the US dollar, which aims to maintain their more consistent prices.
“Just as I promised last year, the Genius Act creates a clear and simple regulatory framework to establish and release the immense promise of stablecoin supported by a dollar,” Trump said on Friday. “It could be the greatest revolution in financial technology since the birth of the Internet itself.”
The Act on Engineering includes the provisions requiring the monthly public disclosure of the reserve competition, as well as the annual verified financial statements for issuers with more than $ 50 billion in market capitalization, according to the Senate banks committee, which led the legislation.
The house adopts Bill Maxine Waters nicknamed “a large -scale crypto”
President Donald Trump arrives for a signature ceremony for the genius law in the eastern house in the White House in Washington on July 18, 2025.
The House adopted the law on engineering on Thursday by a vote of 308-122, after The measure erased the Senate in June by a margin of 68 to 30.
“For too long, the digital asset industry of America has been stifled by ambiguous rules, confusing the application and the anti-scriptto crusade of the Biden administration,” said the whip of the majority Tom Emmer, R-minn on Thursday. “But President Trump and this congress correct the course and unleash America’s digital asset potential with historical and transformative legislation.”
Despite the bipartisanat and the support of a multitude of democrats, the legislation did not obtain votes from all the members of the president’s party.
Vance declares that the crypto finally has a champion ‘in the White House of Trump
Representative Tom Emmer (R-MN) is expressed during a rally featuring the republican candidate for the Republican Presidency, former President Donald Trump and the nomine of republican vice-president, the American senator JD Vance (R-OH) at the Herb Brooks National Hockey Center on July 27, 2024, in St. Cloud, Minnesota. (Stephen Maturen / Getty Images)
Twelve Republicans voted against the measure, which attracted control from the legislators such as the member of the financial committee of the Chamber, the member of the Maxine Waters Committee, D-Calif., Due to conflict of interest problems, because Trump promoted a digital currency called $ Trump.
“By adopting this bill, the Congress will indicate to the world that Congress agrees with corruption, foreign companies buying influence, and ok with criminals that buy Trump parts to ask for pardons and beneficial treatment,” said Waters on the floor of the Chamber on Thursday.
In addition to the Genius Act, the Chamber adopted two other measures related to cryptocurrency on Thursday: the law on the clarity of the digital asset market (Clarity Act) to install an additional regulatory framework for digital assets, and the anti-CBDC digital law, which aims to prevent the Federal Reserve of the Central Bank (CBDC) confidentiality.
Liz Elkind of Fox News contributed to this report
The representative Maxine Waters (D-CA) questions the secretary of the Treasury Scott Bessent as he appeared in front of the House Financial Services Committee on May 7, 2025, in Washington.
