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Fact Sheet: President Donald J. Trump Signs GENIUS Act into Law
MAKING AMERICA THE LEADER IN DIGITAL ASSETS: Today, President Donald J. Trump signed 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.
PROTECTING CONSUMERS IN THE DIGITAL MARKET: President Trump supports the GENIUS Act because it protects consumers from nefarious actors in financial markets.
ENSURING U.S. DOLLAR GLOBAL RESERVE CURRENCY STATUS: By driving demand for U.S. Treasuries, stablecoins will play a crucial role in ensuring the continued global dominance of the U.S. dollar as the world’s reserve currency.
COMBATING ILLICIT ACTIVITY IN DIGITAL ASSETS: Through regulation and registration of stablecoin issuers, along with coordination with the Treasury Department on sanctions enforcement, the GENIUS Act reinforces our national security.
Ether takes spotlight as Trump signs stablecoin bill into first major U.S. crypto law
Ether climbed to end the week as President Donald Trump signed the GENIUS Act stablecoin legislation into law, while bitcoin and its proxies took a breather.
The price of ether was last higher by 2% at $3,506.48, according to Coin Metrics, trading at highs not seen since January and turning positive for the year.
On Thursday, ETFs tracking the price of ether saw daily inflows top those of bitcoin ETFs for the first time ever. The funds logged $602 million in net inflows, led by BlackRock's iShares Ethereum Trust (ETHA). Bitcoin ETFs on the same day saw inflows of $522 million. A day earlier, the ETH funds saw a single-day record inflow of $726.7 million.
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