A gold-plated souvenir version of a Tether (USDT) coin arranged beside a screen displaying U.S. dollar notes, in an illustration picture taken in London on May 8, 2022. Justin Tallis/AFP via Getty Images
House lawmakers passed a landmark stablecoin bill on July 17 in a vote of 308–122, sending it to President Donald Trump’s desk for his signature.
The Genius Act—Guiding and Establishing National Innovation for U.S. Stablecoins Act—aims to establish the first federal framework for stablecoin regulation. Stablecoins are a type of cryptocurrency designed to maintain a nominal value, usually a 1-to-1 dollar peg.
