After adopting the final vote of the House on Thursday, the law on engineering was promulgated by President Donald Trump on Friday July 18. The signing of the genius law was observed in the White House by the best Crypto leaders, including the CEO of Tether (USDT) Paolo Ardoino and Coinbase Global Inc. (Nasdaq: Coin) Pdo Brian Ardhstrong.
Historical cryptography legislation will promote the development and adoption of stabrins in the United States and worldwide. According to President Trump, during the signature ceremony, the law on engineering is an important step for the financial industry.
“It could be the greatest revolution in financial technology since the birth of the Internet himself. Many people say that,” said Trump. “What do you think? If you say yes, I say yes.”
What is the next step for the crypto under the law on genius
The Genius Act was created to regulate the Stablescoin market, which increased to more than $ 264 billion in net evaluation when writing this article. The clear regulatory framework for the Stablescoin market will help attract more institutional investors in blockchain technology and wider cryptographic space.
“This clear orientation of the Congress should also serve as a Catalyst at the SEC in order to provide advice on how the SEC registrants can use – and welcome the use of their customers – payment stables. I invite investors and market players regulated by the SEC to engage with the Crypto Task Force on what the Commission must do, in the light of the law on engineering “, the commissioner dry Hester Peirce, noted.
The traditional adoption of cryptographic assets, through the Stablescoin market, will play a crucial role in the current bull rally. In addition, the Stablescoin market is a major source of liquidity in cryptographic space.
