The GENIUS Act creates a federal framework for issuing and overseeing payment stablecoins. It assigns the Federal Reserve to license and supervise national-level, insured depository institutions. Trump vowed to approve broader crypto market structure legislation before the end of the year.

The GENIUS Act creates a federal framework for issuing and overseeing payment stablecoins. It assigns the Federal Reserve to license and supervise national-level, insured depository institutions. Trump vowed to approve broader crypto market structure legislation before the end of the year.

Source: https://cryptoslate.com/trump-signs-genius-act-into-law-activating-americas-first-regulatory-framework-for-stablecoins/