#StablecoinLaw President Trump signed a law on Friday that establishes the first federal framework for dollar-backed stablecoins, one of the biggest victories so far for a cryptocurrency industry that has advocated for more favorable oversight in Washington, D.C.

"I promised that we would reclaim American freedom and leadership and make the United States the cryptocurrency capital of the world, and that is what we have done," Trump said during a signing ceremony for the GENIUS Act at the White House.