Trump officially signs the stablecoin GENIUS Act, marking the first federal cryptocurrency legislation in history to come into effect

BlockBeats News: On July 19th, US President Trump officially signed the "Genius Act" at the White House, which guides and establishes the National Innovation Act for stablecoins in the United States. This marks the first time in history that federal legislation on cryptocurrency regulation has officially come into effect. The bill sets more stringent requirements for the regulatory standards of stable currency: issuers need to support 1:1 reserves with liquid assets such as US dollars and short-term treasury bond, and disclose the composition of reserves every month. From now on, stablecoins are no longer experimental items in the gray area, but are about to be written into US law and endorsed by the state as "official monetary instruments".