David Sacks, President Trump's AI and crypto czar, speaks at the inaugural Pennsylvania Energy and Innovation Summit at Carnegie Mellon University on July 15 in Pittsburgh. Photo by Jeff Swensen/Getty Images
The House passed legislation Thursday establishing the first-ever regulatory framework for issuers of stablecoins, sending the landmark GENIUS Act to President Trump for his signature.
Why it matters: The GENIUS Act is set to be the first cryptocurrency bill signed into law after it cleared both chambers of Congress, an institution that is notoriously slow to respond to emerging technologies.
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