U.S. President Donald Trump on Wednesday endorsed the GENIUS Act, a newly approved Senate bill that aims to create a regulatory framework for stablecoins—digital assets pegged to fiat currencies like the U.S. dollar.

What Is the GENIUS Act?

The GENIUS Act introduces:

• Reserve requirements for stablecoin issuers

• Mandatory monthly disclosures of reserves

• Oversight aimed at enhancing transparency and trust in digital dollar-pegged cryptocurrencies

Trump's Crypto Pivot

Trump, once skeptical of digital assets, urged the Republican-controlled House to act “LIGHTNING FAST” to pass the bill without amendments:

“Get it to my desk, ASAP — NO DELAYS, NO ADD ONS,” Trump posted on Truth Social.

This marks a pro-crypto shift in U.S. leadership and could give Circle's USDC and Tether's USDT more regulatory clarity—potentially bolstering institutional adoption.

Track Stablecoin Movements in Real Time

Use the Crypto Currency Free API to monitor stablecoin performance, market caps, and price stability of top assets like USDC and USDT—critical for traders and fintech platforms.