Trump Signs Historic National Innovation Stablecoin Act, Cementing USDT as Official Monetary Tool

On July 19, President Trump enacted the National Innovation Stablecoin Act, marking a pivotal moment as the first federal legislation to regulate cryptocurrency in the United States. Commonly referred to as the โ€œGenius Act,โ€ this law introduces comprehensive regulatory frameworks specifically targeting stablecoins. Under the new mandate, issuers are required to maintain a 1:1 reserve backing with liquid assets, including US dollars and short-term Treasury securities, ensuring enhanced financial stability and transparency. Additionally, monthly public disclosures of reserve compositions are now compulsory, promoting accountability within the stablecoin ecosystem. This legislation effectively transitions stablecoins from a previously ambiguous regulatory status to an officially recognized monetary instrument, providing a clear legal foundation and fostering greater institutional confidence in digital currency markets.

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Source: https://en.coinotag.com/breakingnews/trump-signs-historic-national-innovation-stablecoin-act-cementing-usdt-as-official-monetary-tool/