TechFlow news, July 19 — David Sacks, White House cryptocurrency and AI czar, announced that President Trump has once again made history by officially signing the GENIUS Act into law today, establishing a legal framework for stablecoins. This legislation will advance the U.S. crypto industry in the following ways:
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Establishing clear regulatory rules, ending the previous four years of "regulation by enforcement"
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Revolutionizing traditional payment systems using blockchain technology
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Reinforcing the dominance of the U.S. dollar through globally accessible digital dollars
Under the Act, every digital dollar held in a crypto wallet will be backed by an equivalent U.S. dollar reserve in a bank account, creating trillions of dollars in demand for U.S. Treasury securities. This is yet another example of President Trump delivering on his promises. Additionally, the House has passed the CLARITY Act (Market Structure Act), and President Trump has stated he will support its passage through the Senate. Having pledged to make America the world's crypto hub, President Trump is now turning that promise into reality.
