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  - WN.COM - Business - 26/Jul 22:03

Personal Finance: Are stablecoins genius or folly?

On July 19, President Donald Trump signed the "Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025," dubbed the Genius Act, the first major legislation aimed at regulating cryptocurrencies in the U.S. The act creates a framework for the issuance and regulation of stablecoins, a specific type of digital asset intended for use in payment transactions. The measure had broad bipartisan support, garnering a 308 to 122 vote in the House of Representatives and a 68 to 30 majority in the Senate. Despite the growing interest in crypto, the previous administration struggled to produce a workable framework, even debating whether cryptocurrencies should be considered a...

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