NewsGate Press Network

In a landmark development the president of the United States of America Donald Trump on Saturday the 19th of July 2025 signed into law the GENIUS Act, a landmark bill that establishes a regulatory framework for payment stablecoins, marking a pivotal moment in America’s digital currency policy.

The formal title of the new act is ‘Guiding and Establishing National Innovation for US Stablecoins Act,’ the new American law is meant to regulate dollar-backed stablecoins and is certainly set boost the US position in the global crypto economy.

“I pledged that we would bring back American liberty and leadership and make the U.S. the crypto capital of the world,” Trump said at the signing ceremony. “The GENIUS Act creates a clear and simple regulatory framework to unleash the immense promise of dollar-backed stablecoins.”

Flanked by crypto industry leaders and Republican lawmakers who sponsored the bill, Trump used the occasion to tout America’s return to financial and technological dominance. “They named it after me,” he said.

“This could be perhaps the greatest revolution in financial technology since the birth of the internet itself. A lot of people are saying that,” Trump said. “What do you guys think? If you say yes, I’m saying yes.”

“Nobody’s gained the respect in such a short period of time,” Trump said. “This signing is a massive validation of your hard work and your pioneering spirit and your ability to never give up.”

Later in the day an official White House release stated that  – “On Friday, July 18, 2025, the President signed into law S.1582, the GENIUS Act, which provides for the regulation of payment stablecoins, and for other purposes.”

The new law was approved by the House of Representatives with a decisive 308–122 vote in its favour.

It is the first US legislation of its kind focused solely on the stablecoin sector, which has grown rapidly in recent years, CNN reported.

Some Democrats, however, like Massachusetts Sen. Elizabeth Warren, the top Democrat on the Senate Banking Committee, have argued that the bill does not contain sufficient safeguards for consumers, national security, or financial stability, while also criticizing the Trump family’s ties to crypto, CNN reported.