LIVE | Trump Signs Crypto Bill | GENIUS Act | Stablecoin | Trump Announcement On Cryptocurrency LIVE

Donald Trump LIVE: Trump Holds Signing Ceremony for Cryptocurrency Bill | GENIUS Act | Stablecoin On Thursday, the House of Representatives passed the Genius Act, a bill that establishes rules for stablecoins, a type of cryptocurrency pegged to the U.S. dollar, with President Donald Trump expected to sign the legislation into law at a ceremony on Friday afternoon. After years of battling with regulators, the legislation represents a major victory for the crypto industry, which started in the wake of the 2008 financial crisis and was long viewed as an outlaw sector. Now, the stamp of approval from Congress—and the broad embrace by the Trump administration—casts new legitimacy on blockchain technology, with once-skeptical institutions like Big Tech companies and banks rushing in, especially as Bitcoin soars to record highs. However, as Congress moves on to debate a second bill that would create regulations around cryptocurrencies and exchanges, critics warn that the passage of stablecoin legislation raises concerns about the increasing ties between Trump’s business empire and blockchain interests. “That is a huge conflict of interest that society is just really not prepared for,” said Todd Phillips, a banking and administrative law professor at Georgia State University. The president and crypto Congress has long had stablecoins in its sights, with then-House Financial Services ranking member Patrick McHenry (R-N.C.) and Chair Maxine Waters (D-Calif.) working on a bipartisan bill in 2022, before the collapse of Sam Bankman-Fried’s crypto exchange FTX delayed the progress and sent the industry into a tailspin. #live #trump #trumpcrypto #trumpnews #stablecoin #geniusact #cryptolatestnews #cryptolaw #hindustantimeslive #usnewslive