US passes first major crypto law, Genius Act
bbc.com —
The US has passed the Genius Act, its first major national cryptocurrency legislation, marking a significant win for the industry. President Trump is expected to sign the bill into law today. The legislation establishes a regulatory framework for stablecoins, a type of cryptocurrency backed by assets like the dollar. The bill's passage follows approval by both the Senate and House, reflecting the industry's growing influence in Washington. Critics express concerns about potential risks to the financial system, while supporters believe the act provides clear rules for a growing industry. The bill's passage comes after years of lobbying and significant financial contributions from the crypto sector.