President Donald Trump signed the genius action in law today, marking a milestone in his administration’s push to establish the United States as the global Bitcoin and Crypto Capital. The legislation creates a clear legislative framework for dollar -backed stableecoins, representing what Trump called “perhaps the biggest revolution in financial technology since the very birth of the Internet.”
While the Genius Act does not directly address Bitcoin, the legislation establishes legislative clarity that can benefit all digital assets, including Bitcoin, by creating a better environment for cryptoinnovation and increasing trading volume on stock exchanges.
In a speech at the signing ceremony, Trump emphasized the transformative potential of the new law. “This is really a great day. This is a very big thing and I would like to thank Senator Bill Hagty, a very good friend of me,” who has played a huge role in getting this bill across the finish line. This will make America stronger and congratulations, it is good for the country. ”
The president linked the legislation to his Bitcoin and Crypto obligations and referred to his historical performance at the Bitcoin conference. “Exactly this month, many of you were in Nashville, Tennessee, when I became the first president to ever tackle the Bitcoin conference. I promised we would make the United States the crypto capital in the world, and this only goes on.”
Trump outlined his administration’s approach to digital assets and highlighted several key initiatives. “First week at office, I established the first presidential group on digital assets. I stopped the weapons of the weapons against crypto, and Bitcoin, we stopped choke 2.0. And I released Ross Ulbricht.”
The president also referred to his establishment of strategic Bitcoin reserves through executive order, demonstrating his commitment to Bitcoin specifically. “Last March, I signed an executive order to set up the American strategic Bitcoin reserve as well as the US digital asset stock, and with today’s signature we push even more into the exciting limit.”
The president then discussed how the Genius Act addresses a critical infrastructure murder in the US financial system. “Many Americans are not aware that the technical backbone of the financial system is decades out of date. Payments and money transfers take days and even weeks to clear,” Trump explained. “Genius Act provides banks, businesses and financial institutions a framework for the issuing of crypto assets, supported 1 for 1 with real US dollars.”
Legislation is expected to increase the demand for US Treasury, according to Trump. He also confirmed his opposition to the central bank’s digital currencies and said, “I am also fully obliged to my promise to never allow a central bank’s digital currency in America.”
AI & Crypto Czar David Sacks, who spoke at the ceremony, emphasized the moment. “Today, you have another historic legislative performance and it is a step to make the United States crypto capital in the world. The Genius Law will unlock the dominance in the crypto industry by creating rules for the way.”
Trump concluded by promising further crypto legislation this year, called it “a really hot industry” and continued to signal the speed of Bitcoin and digital asset development in America.