Talented act Makes rules For those institutions that release stablecoins, the value of US dollars is bound by assets. They rule the rules that have allowed stabechoin, how they need to maintain reserves, what happens in case of insolvency, and is a responsibility to prevent money laundering.

Trump congratulated the members of the Crypto industry, who attended the signature ceremony at the White House, which included the CEO of the Coinbase and Tithar. He attracted a clear contrast among the Biden administration, which he called “a vicious group of people”, which “trying to crush your industry,” and himself. “I put you guys out of such trouble,” said Trump.

“The entire Crypto community, for years, was joking and rejected and counted.” “But this signature is a great verification of your hard work and your leading spirit.” He said he chose to return Crypto “in an early stage” as it would make the US dollar stronger. “And I also did it for votes,” he told the audience to a round of laughter, “Because you came out and voted.”

The bill passed through both the Congress chambers with bilateral support, stating that it takes the necessary security measures for the industry and keeps American competitors in space. But it also saw opposition from other members of both sides. Sen Josh Hale (R-MO) Bill criticized As “a huge cheap for Big Tech”, it will encourage companies that release stablecoins to collect more financial data on consumers, citing concerns. In a speech on the Senate floorElizabeth Warren (D-MA), rankings of the Senate Banking Committee, said the bill is “filled with flaws and includes weak safety measures for consumers, national security and financial stability.”

Rabbit And other democrats It is also warned that legalizing the StableCoin industry through law may lead to a possible avenue of corruption for Trump. Trump’s family is included in the Crypto firm World Liberty Financial which launched its Stabelcoin, USD1. White House has said This enterprise does not struggle for the President because his property is in a trust managed by his children.

“Through his Crypto businesses, President Trump has created a skilled means to trade in favor of the President such as tariff exemption, forgiveness, and hundreds of crores for government appointments -Arabs -Arabs -Arbas -from foreign governments, from billionaires, and big corporations,”. “This is the biggest corruption scam in American history and, by passing the Genius Act, the Senate is not only blessing this corruption, but also actively to facilitate its expansion.”

As Trump signed the Genius Act, he tried to focus on this Predecessor“This is not an autopane, by the way.” Trump quipped.