In a major policy shift, former President Donald Trump now supports the crypto industry as the U.S. Congress passes the Genius Act, granting legal status to stablecoins. These digital currencies must be backed by U.S. dollars or equivalent assets, ensuring stability and safer transactions. The law addresses long-standing demands for regulation, boosting investor confidence. While critics warn of potential risks from increased tech-company involvement in finance, supporters see it as a step toward a modern, innovative financial system.
The U.S. Congress has passed a national cryptocurrency bill titled the Genius Act, marking a significant turn in policy. A decade ago, Donald Trump dismissed cryptocurrency as a "scandal of the future." Today, the very same crypto has been granted legal recognition under U.S. law.
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