Stablecoin Bill Signed Into Law

President Donald Trump has signed into law a landmark bill establishing the first federal framework for dollar-backed stablecoins—marking a major victory for the cryptocurrency industry, which has long pushed for clearer regulatory oversight in Washington, David Hollerith and Jake Conley reported for Yahoo Finance.

The move is part of what proponents have dubbed "Crypto Week."

"I pledged that we would bring back American liberty and leadership and make the United States the crypto capital of the world, and that's what we've done," Trump said during the White House signing ceremony for the GENIUS Act.

Two additional crypto-related bills also cleared the House this week. First is the CBDC Anti-Surveillance State Act, which prohibits the creation of central bank digital currencies.

Next is the Clarity Act, which assigns oversight of all digital assets—except stablecoins—to either the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC).

Both bills are now headed to the Senate, where their fate remains uncertain.

The legislative wins follow weeks of intense negotiations, with GOP leaders working to bring party holdouts into the fold during what proponents have dubbed "Crypto Week" on Capitol Hill.