Trump signs 'GENIUS Act' to regulate crypto, jokes 'They named it after me'
US President Donald Trump has signed the 'GENIUS Act' into law with the aim of regulating stablecoins, a type of cryptocurrency that is pegged to another asset like the US dollar. "It's a very important act, the GENIUS Act. They named it after me," joked Trump. With the signing, banks, non-banks and credit unions can issue their own stablecoins.