WATCH LIVE: Trump signs GENIUS Act, creating regulations for dollar-linked stablecoin crypto – Washington Examiner
President Donald Trump signed the GENIUS Act, which establishes regulations for stablecoin cryptocurrencies pegged to the U.S. dollar. The signing took place on a Friday afternoon amid efforts to secure Republican support. Trump successfully persuaded about a dozen GOP lawmakers to back the bill after they initially stalled it due to the absence of a ban on central bank digital currency (CBDC). Following his intervention, these representatives agreed to vote in favor of the legislation. Trump expressed gratitude for their support and highlighted the importance of the act during what was referred to as “Crypto week.”
WATCH LIVE: Trump signs GENIUS Act, creating regulations for dollar-linked stablecoin crypto
President Donald Trump is signing the GENIUS Act, which will regulate stablecoin cryptocurrencies, whose values are pegged to the U.S. dollar, at around 2:30 p.m. Friday.
TRUMP STRIKES DEAL WITH GOP HOLDOUTS ON GENIUS ACT DURING ‘CRYPTO WEEK’
Trump needed to convince about a dozen Republicans to vote for the bill after they stalled it due to certain provisions not included in the bill, namely, the lack of a ban on central bank digital currency. They agreed to vote for it after the president’s intervention.
“I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule,” Trump wrote on Truth Social. “I want to thank the Congressmen/women for their quick and positive response,” he added. “MAKE AMERICA GREAT AGAIN!”
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
