Washington (AP) – President Donald Trump on Friday will sign a new set of rules for a type of cryptocurrency in law, which is seen as a way to legalize the cumbersome industry.
The Genius Act determines the initial railing and consumer protection for Stabecrimons, a type of cryptocurrency that is bound by a stable property like US dollar to reduce value volatility. It passed both the House and the Senate with a broad bipartisan margin.
This remedy is to increase consumer confidence in the rapidly growing crypto region. Its path comes when Trump makes it a mission to make America a “Crypto Rajdhani of the world”.
Trump wrote on his social media site on Friday morning, “Congratulations to be able to fulfill our great Republican so much, a record, in such a short time,” Trump wrote on his social media site on Friday morning.
The House also passed two other bills on Thursday to promote the validity of the crypto industry. One creates a new market structure for cryptocurrency, and the other restrictions to the Federal Reserve from issuing a new digital currency. Both measures now go to the Senate.
Sewing Min Kim (), Associated Press
