Trump to sign landmark crypto bill, the GENIUS Act, at White House ceremony
CBSN
Washington — President Trump is set to sign a landmark bill to regulate cryptocurrency on Friday, one day after the bill passed the House despite some opposition from conservatives.
The legislation, called the GENIUS Act, will be the first major law governing digital currency, establishing a regulatory framework for the $250 billion stablecoin market. Stablecoins are viewed as a relatively safe type of cryptocurrency, since their value is pegged to other assets, like the dollar. The bill passed the House on Thursday with the support of 206 Republicans and 102 Democrats.
The fate of the GENIUS Act was in question earlier this week when a dozen conservatives stymied a procedural vote. A compromise was ultimately reached, and the holdouts allowed the legislation to proceed.
