A significant change has occurred in the crypto market in the United States. This was reported by Zamin.uz.
President Donald Trump signed a new law in the field of stablecoins in the country - the "GENIUS" law. This document aims to fundamentally change the digital finance system and serves to strengthen the position of the US dollar in the global financial market.
According to the new law, stablecoins, which are cryptocurrencies tied to the value of the US dollar or government bonds, will now be subject to federal oversight. It has been stipulated that stablecoin issuers must publicly announce their reserves every month.
According to the White House statement, the "GENIUS" law will increase demand for government debt and further strengthen the dollar's position in the international financial system. Leaders of major technology and cryptocurrency companies participated in the signing ceremony.
President Trump called this reform historic and emphasized that it is the first federal system to regulate stablecoins. Now government officials will also have the opportunity to legally purchase and use stablecoins.
The bill was supported by both parties in Congress. Although Democrats proposed to restrict officials and their family members from participating in the stablecoin business, this provision was not adopted.
Experts believe that the new law will create favorable conditions for digital currencies tied to the dollar and make the US crypto market competitive on a global scale. The current stablecoin market has exceeded $260 billion, and this figure could reach $2 trillion by 2028.
Experts and economists emphasize that the "GENIUS" law will usher in a new era in US finance and technological development. This law is expected to strengthen America's leadership position in the digital assets market.
