Donald Trump Signs Crypto Bill, ‘Genius Act’ To Regulate Cryptocurrency, Jokes ‘They Named It After Me’
US President Donald Trump signed the 'GENIUS Act' on July 18, 2025, to set clear rules and protections for stablecoin use. The bill was passed the House with support from both parties. Trump joked, “They named it after me,” during the signing ceremony.
US President Donald Trump has signed a new bill to regulate cryptocurrency on Friday, July 18, 2025. The bill is known as "GENIUS Act" was approved in the House of Representatives with a 308 to 122 vote from most Republicans and nearly half of the Democrats, as per a report of Reuters. The Senate had already passed the bill before it reached the House. The GENIUS Act, also known as “Guiding and Establishing National Innovation for US Stablecoins”, aims to set clear rules and consumer protection for the use and regulation of stablecoins. Trump also joked during a White House signing ceremony and said, "The GENIUS Act, They named it after me." As per a report of CBS News, this marks the first law to oversee digital currencies, setting up a regulatory framework for the USD 250 billion stablecoin market. The White House shared a post on X (formerly Twitter), which read, "The GENIUS Act creates a clear and simple regulatory framework to establish & unleash the immense promise of dollar-backed stablecoins." Donald Trump Sues Wall Street Journal and Media Mogul Rupert Murdoch Over Reporting on Jeffrey Epstein Ties.
US President Donald Trump Signs ‘Genius Act’ Into Law
✅ 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
Donad Trump Says ‘The GENIUS Act, They Named It After Me’
.@POTUS: "The GENIUS Act — they named it after me." 🤣 pic.twitter.com/TpqvTCmNxO
— Rapid Response 47 (@RapidResponse47) July 18, 2025
(The above story first appeared on LatestLY on Jul 19, 2025 08:36 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
