Trump Signs GENIUS Act, Setting Up America to be the Crypto Capital of the World [WATCH]

President Donald Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act into law on Friday, setting in motion a comprehensive regulatory framework for stablecoin issuance in the United States.

✅ GENIUS ACT SIGNED INTO LAW

“The GENIUS Act creates a clear and simple regulatory framework to establish & unleash the immense promise of dollar-backed stablecoins. This could be perhaps the GREATEST revolution in financial technology since the birth of the internet itself.” pic.twitter.com/CH5pnznAuf

— The White House (@WhiteHouse) July 18, 2025

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The signing took place at the White House and was attended by Cabinet officials, members of Congress, and several prominent figures from the cryptocurrency industry.

Trump received a standing ovation at the GENIUS Act signing ceremony and joked the bill was named after him pic.twitter.com/lKiIpcUmNs

— Nick Gilbertson (@Gilbertson_DC) July 18, 2025

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The legislation aims to provide banks, businesses, and financial institutions with regulatory clarity for issuing stablecoins — digital assets backed one-for-one by U.S. dollars, treasury bills, or equivalent cash assets.

@POTUS signs the GENIUS Act into law — a historic piece of legislation that will pave the way for the United States to lead the global digital currency revolution. pic.twitter.com/bYT0bAEjcJ

— Rapid Response 47 (@RapidResponse47) July 18, 2025

President Trump, speaking at the event, highlighted the significance of the bill, describing it as a transformative moment for financial technology in the United States.

“This could be perhaps the greatest revolution in financial technology since the birth of the Internet itself. A lot of people are saying that,” Trump said.

He then turned to the Winklevoss twins, founders of the cryptocurrency exchange Gemini, and asked for their thoughts.

One of the brothers reportedly gave a thumbs up, prompting the president to respond, “If you say yes, I’m saying yes.”

.@POTUS: “The GENIUS Act creates a clear and simple regulatory framework to establish and unleash the immense promise of dollar-backed stablecoins. This could be perhaps the greatest revolution in financial technology since the birth of the internet itself.” pic.twitter.com/Gnfaq4yI3b

— Rapid Response 47 (@RapidResponse47) July 18, 2025

The GENIUS Act sets out a “light-touch” regulatory model, which supporters say will enable the United States to compete globally in the emerging digital finance sector while preserving the strength of the U.S. dollar.

According to the legislation, stablecoins issued under the framework must be fully backed by U.S. assets, ensuring transparency and financial integrity.

Trump noted that the legislation addresses a long-standing weakness in the nation’s financial infrastructure.

“Under this bill, the entire ancient system will be eligible for a 21st-Century upgrade using the state-of-the-art crypto technology,” he said.

David Sacks, who serves as President Trump’s AI and Crypto Czar, also spoke at the signing ceremony. Sacks praised the legislation and framed it as a fulfillment of a key policy objective.

“This GENIUS Act will unlock American dominance in the crypto industry by creating clear rules of the road. It will update archaic payment rails with a revolutionary new payment system,” Sacks said.

He added that the GENIUS Act would help extend the dominance of the U.S. dollar by enabling the creation of a secure, widely accepted digital dollar.

“And for every digital dollar in a crypto wallet, there’ll be a traditional dollar in a U.S. bank account, which will create trillions of dollars of demand for U.S. Treasury. So that is the power of this bill — is U.S. dollar dominance,” Sacks said.

.@davidsacks47 delivers remarks prior to @POTUS signing the GENIUS Act into law: “Today, you have another historic legislative achievement that is a monumental step to fulfilling your promise to making the United States the Crypto Capital of the world.” pic.twitter.com/pGMg4kPdxT

— Rapid Response 47 (@RapidResponse47) July 18, 2025

The GENIUS Act has garnered attention from lawmakers and crypto stakeholders alike.

Supporters say it provides long-needed clarity for the digital asset sector while reinforcing the role of the dollar in global markets.

The bill is expected to influence both domestic and international financial institutions as they adapt to increasing interest in stablecoin technology.

Trump’s administration has identified crypto innovation as a core element of its financial modernization agenda.

With the signing of the GENIUS Act, the administration now moves forward with implementation and oversight in coordination with federal financial regulators and private sector partners.

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