President Donald Trump signed the Genius Act to the law just a day after passing the House with 306-122 votes.
The bill presents the first ever US federal cryptographic law and creates strict rules for Stablecoin publishers, including a full 1:1 reserve, regular audits, and registration with federal or state regulators.
Trump signed the bill during a closure session Friday morning. While celebrating the victory, he jokingly told reporters:
Crypto Czar David Sacks, who played a central role in last-minute negotiations, said earlier this week that the bill was “dead.”
Despite bipartisan support for the bill, some hard-line Republicans remain opposed.
Representative Marjorie Taylor Greene posted on X (formerly Twitter), warning:
“Congress today passes the bill (Genius Act) that opens a backdoor to central bank digital currency (CBDC)… The Fed has been working on this for many years… The ultimate goal is to move us into a cashless society.”
She criticized House Republicans for passing the genius without securing Senate support for the formal CBDC ban. That other bill – the anti-CBDC Act has not yet cleared the Senate.
Proponents of the Genius say the bill explicitly bans algorithm stability, requires full dollar reserves, provides a secure framework for regulated digital dollars, not government-controlled.
With Trump’s signature, genius acts quickly become law. Currently, US regulators are required to draft implementation rules for Stablecoin licenses and enforcement until 2026.
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