The White House hailed the passage of the GENIUS Act, calling it historic legislation that will pave the way for the United States to lead the global digital currency revolution. President Trump said the bill "creates a clear and concise regulatory framework to establish and unlock the tremendous potential of dollar-backed stablecoins. This is perhaps the greatest revolution in fintech since the birth of the Internet."
"We are ensuring the dominance of the dollar, unleashing innovation, and giving the United States permanent control over the future of digital finance," said Bo Hines, executive director of the President's Digital Asset Advisory Council.
White House cryptocurrency czar David Sacks said: "Today we have achieved another historic legislative achievement, which is an important step in President Trump's commitment to making the United States the cryptocurrency capital of the world."
"Blockchain technology will power the next generation of payments, and the dollar is on the way," said Treasury Secretary Scott Bessent. "Thanks to President Trump's visionary leadership. The GENIUS Act will help solidify the dollar's position as the global reserve currency for generations to come."
The White House: The GENIUS Act legislation will pave the way for the United States to lead the global digital currency revolution
2025-07-20 01:22:15
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