Watch live as President Donald Trump is set to participate in a signing ceremony for the S.1582 GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act), a landmark U.S. federal law aimed at regulating stablecoins, a type of cryptocurrency pegged to assets like the U.S. dollar to maintain stable value. The bipartisan bill, passed by the Senate with a 68-30 vote and the House with a 308-122 vote, establishes a comprehensive regulatory framework, mandating stringent reserve requirements, transparency, and audits for stablecoin issuers, while creating a dual federal-state supervisory system to ensure consumer protection and financial stability. This act, expected to take effect 18 months after signing, marks the first major cryptocurrency legislation to pass both chambers of Congress, positioning the U.S. as a leader in digital asset regulation despite concerns from some Democrats about potential conflicts of interest due to Trump’s ties to the stablecoin USD1 through World Liberty Financial.
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