$TRUMP Signs #GENIUS Act โ U.S. Takes #Crypto #Crown ๐
๐จ President Trump has officially signed the GENIUS Act into law โ the first federal framework for stablecoins! ๐บ๐ธ๐
Key Highlights:
๐ฐ Stablecoins must be fully backed by liquid assets like the U.S. dollar or short-term Treasuries, with monthly public reserve disclosures โ strict transparency measures.
Regulators will enforce guardrails: no misleading claims, public disclosures, and alignment between federal/state rules to protect consumers.
The law has bipartisan supportโpassed 308โ122 in the House, 68โ30 in the Senate.
Why It Matters:
Crypto market just surged past $4 trillion, with altcoins rallying on this landmark move.
Trump positioned this as part of making the U.S. the โcrypto capital of the world.โ He even joked, *โThey named it after me โ this is a hell of an act.โ*
Potential conflict: Trumpโs family venture, USD1 stablecoin, stands to benefit โ critics warn of ethics and AML loopholes.
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๐งญ Bottom Line:
Trumpโs move brings stablecoins into the financial mainstream with regulatory clarity, fueling market growth and dollar dominance โ but watch for AML gaps and ethics scrutiny.
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