US President Donald Trump called on the Republicans to extend their full support to the Genius Act, a radical bill aimed at regulating stablecoins and claiming America’s dominance in the digital assets room.In a message on his social media platform Truth Social, Trump wrote: “Happy Crypto Week! The house will soon vote for a huge account to make America the undisputed, number one leader in digital assets – nobody does it better! The brilliant law goes our great nation light in the light of China, Europe and all others, who just don’t try to do.”“Digital assets are the future, and we are a lot leading! Get the first mood this afternoon (all Republicans must vote yes!). This is our moment – digital assets, genius, clarity! It is all part of making America great again, bigger and better than ever before. “The American president said that America is leading the world and will continue to work with the Senate and the house to penetrate more related legislation.Earlier Trump wrote that he had had a meeting with 11 of the 12 legislators who had to approve the Genius Act, and after a short discussion all agreed to vote for the rule the next morning.He described the bill as a cornerstone of his Maga agenda and said: “Speaker of the house Mike Johnson was by telephone at the meeting and looks forward to taking the voice as early as possible. I want to thank the congress members/women for their fast and positive response. Make a large number of America again!”
What is the brilliant action?
The genius law is a proposed law that aims to introduce the very first federal framework to regulate stablecoins, cryptocurrencies whose value is linked to assets such as the US dollar. The bill is designed to bring clarity and supervision of the fast -growing digital assets market. Proponents say that it is the need for consumer protection in balance with the urge for financial innovation, despite constant political debates and worries about transparency.In contrast to volatile cryptocurrencies such as Bitcoin or Ethereum, Stablecoins are widely used for digital payments, cross -border transfers and decentralized finances (Defi). The Stablecoins market is bleached to almost $ 250 billion, which expresses concern about financial stability and the lack of regulations.The legislation contains rules on how Stablecoins are issued, the type of reserves that are needed to support them and how transparent emitting should be. It introduces federal supervision to close legal gaps and prevent abuse by preventing bad actors. Proponents believe that the bill entails the long clarity and guarantees for an industry that has largely operated without clear laws.
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