President Donald Trump signed the GENIUS Act into law today, marking a milestone in his administration’s push to establish the United States as the global Bitcoin and crypto capital. The legislation creates a clear regulatory framework for dollar-backed stablecoins, representing what Trump called “perhaps the greatest revolution in financial technology since the birth of the internet itself.”
While the GENIUS Act doesn’t directly address Bitcoin, the legislation establishes regulatory clarity that could benefit all digital assets, including Bitcoin, by creating a better environment for crypto innovation and increasing trading volume on exchanges.
Speaking at the signing ceremony, Trump emphasized the transformative potential of the new law. “This is really a big day. This is a very big thing and I want to thank Senator Bill Hagerty, a very good friend of mine,” who has played a huge role in getting this bill across the finish line. This is going to make America stronger, and congratulations, it’s good for the country.”
The President connected the legislation to his Bitcoin and crypto commitments, referencing his historic appearance at the Bitcoin Conference. “Exactly this month many of you were in Nashville, Tennessee, when I became the first president ever to address the Bitcoin conference. I pledged that we would make the US the crypto capital in the world, and this is only going further.”
Trump outlined his administration’s approach to digital assets, highlighting several key initiatives. “First week in office I established the first presidential working group on digital assets. I stopped the weaponization of government against crypto, and Bitcoin, we stopped Choke 2.0., and I freed Ross Ulbricht.”
The President also referenced his establishment of strategic Bitcoin reserves through executive order, demonstrating his commitment to Bitcoin specifically. “Last March I signed an executive order establishing the US strategic Bitcoin reserve as well as the US digital asset stockpile, and with today’s signing we are pushing even more into the exciting frontier.”
The President then discussed how The GENIUS Act addresses a critical infrastructure gap in the American financial system. “Many Americans are unaware that the technical backbone of the financial system is decades out of date. Payments and money transfers take days and even weeks to clear,” Trump explained. “The GENIUS Act provides banks, businesses and financial institutions a framework for issuing crypto assets backed 1 for 1 with real US dollars.”
The legislation is expected to increase demand for US Treasuries, according to Trump. He also reaffirmed his opposition to central bank digital currencies, stating, “I also remain fully committed to my pledge never to allow a central bank digital currency in America.”
AI & Crypto Czar David Sacks, speaking at the ceremony, emphasized the historic nature of the moment. “Today you have another historic legislative achievement and it is a step to making the United States the crypto capital of the world. The GENIUS Act will unlock dominance in the crypto industry by creating rules of the road.”
Trump concluded by promising additional crypto legislation this year, calling it “a really hot industry” and signaling continued momentum for Bitcoin and digital asset development in America.