Donald Trump · Federal Reserve (FED) · CoinDesk
President Donald Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act into law a year
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Key facts
- CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B
- In an emailed statement on Thursday, Senator Elizabeth Warren said she was asking Trump for a financial disclosure that included the first half of 2026, after his 2025 disclosure noted he made
- On Thursday, Senators Cynthia Lummis and Bernie Moreno were supposed to brief Trump on the bill
- In an emailed statement, Crypto Council for Innovation CEO Ji Hun Kim called the passage of the bill "a landmark moment
Summary
President Donald Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act into law a year ago, setting the U.S. on a course to establish federal regulations for stablecoins for the first time. The GENIUS Act became law a year ago yesterday, directing federal regulators to begin sorting out how stablecoins should be governed. The law set up a broad direction for how stablecoin issuers can handle reserves, governance and operational needs, with the details left to agencies like the Office of the Comptroller of the Currency or the Federal Depository Insurance Corporation. With the GENIUS Act's implementation, the U.S. launched its first major federal law addressing cryptocurrencies, even if GENIUS only targets a small subsection of that sector.