Trump signs 1st major federal cryptocurrency bill into law

President Donald Trump signed the GENIUS Act, the first major federal law regulating cryptocurrency, focusing on stablecoins tied to assets like the U.S. dollar. The bipartisan bill aims to boost public trust and mainstream adoption by easing rules for banks and issuers. Trump, who has embraced crypto and launched his own coin, called the law a step toward making the U.S. a global crypto leader. Critics, including Rep. Maxine Waters, warn of potential conflicts of interest due to Trump family ties to a stablecoin venture that may benefit from the law. Federal agencies now have six months to draft specific regulations.