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President Donald Trump signed the Genius Act today, marking a milestone in his administration’s push to establish the United States as a global Bitcoin and crypto capital. The legislation creates a clear regulatory framework for USD-backed stablecoins, representing what Trump calls “perhaps the biggest revolution in financial technology since the birth of the Internet itself.”
Although the Genius Act does not directly address Bitcoin, the legislation establishes regulatory clarity that can benefit all digital assets, including Bitcoin, by creating a better environment for crypto innovation and increasing exchange transaction volume.
Trump spoke at the signing ceremony, highlighting the change potential of the new law. “It’s really been a big day. It’s a big thing and I want to thank a very good friend of mine, Senator Bill Hagerty, who played a big role in getting this bill across the finish line. This will make the United States stronger, and congratulations, it will be good for the country. ”
The president linked legislation to his Bitcoin and cryptocurrency commitments and mentioned his historic appearance at the Bitcoin conference. “It was precisely this month that many of you were in Nashville, Tennessee, when I became the first president of all time to be at the Bitcoin conference. I promise we will make the United States the cryptocurrency capital of the world, and that will only go further.”
Trump outlined his administration’s approach to digital assets, highlighting several key moves. “In my first week at work, I set up the first presidential task force on digital assets. I stopped the government’s weaponization of cryptocurrencies, Bitcoin, we stopped Choce 2.0. I released Ross Ulbricht.”
The president also mentioned his establishment of strategic Bitcoin reserves through executive orders, which demonstrates his commitment to Bitcoin. “Last March, I signed an executive order to establish the U.S. strategic bitcoin reserves as well as U.S. digital asset inventory, and with today’s signing, we will push more toward exciting borders.”
The president then discussed how the Genius Act addressed important infrastructure gaps in the U.S. financial system. “Many Americans don’t know that the technical backbone of the financial system is outdated. Payments and remittances take days or even weeks to clear,” Trump explained. “The Genius Act provides banks, businesses and financial institutions with a framework for crypto assets with real dollar terms of 1 to 1.”
According to Trump, the legislation is expected to increase demand for U.S. Treasury bonds. He also reiterated his opposition to the central bank’s digital currency, noting: “I am also fully committed to my commitment to never allow the US central bank’s digital currency.”
AI & Crypto Tsar David Sacks delivered a speech at the ceremony, emphasizing the historicity of the moment. “Today, you have achieved another historic legislative achievement, a step to making the United States the crypto capital of the world. The Genius Act will unlock the strengths of the cryptocurrency industry by setting rules of the road.”
Trump ended this year’s additional crypto legislation, calling it “a very popular industry” and said the momentum of Bitcoin and digital asset development in the United States continues.