US President Donald Trump is set to sign the GENIUS Act into law tonight at 12 AM IST (2:30 PM EDT) during a formal ceremony at the White House.
The bill—short for Guiding and Establishing National Innovation for U.S. Stablecoins—marks the United States’ first comprehensive federal framework for regulating stablecoins.
About the GENIUS Act
Requires 1:1 backing of stablecoins with U.S. dollars or equivalent assets.
Mandates monthly audits and public disclosure of reserves.
Bans interest or yield on payment stablecoins, even from foreign issuers.
Creates dual oversight: issuers can be regulated federally or by states, depending on their size and scope.
JUST IN: 🇺🇸 Trump will sign GENIUS Act into law tonight at 12 AM IST
(image from @EleanorTerrett) pic.twitter.com/vqq9mgMeJA
— Crypto India (@CryptooIndia) July 18, 2025
Political Drama and Bipartisan Support
The bill passed the House with a 308–122 vote, following Senate approval last month. Despite initial resistance from GOP hardliners, Trump’s direct intervention helped push the legislation forward.
The GENIUS Act was part of a trio of crypto bills, including the CLARITY Act and the Anti-CBDC Surveillance State Act, aimed at reshaping U.S. digital asset policy.
Controversy and Criticism
While many hail the bill as a step toward financial modernization, critics—including Senator Elizabeth Warren warn of conflicts of interest, citing Trump’s ties to stablecoin ventures like USD1. Others argue the law favors large issuers and may stifle innovation in decentralized finance (DeFi).
Market Reaction
Crypto markets responded with cautious optimism. Stablecoin-related stocks surged briefly, and industry leaders like Coinbase and Circle praised the bill’s clarity and potential to attract institutional capital.
The signing ceremony will be livestreamed on the White House website, with remarks expected from Trump and key lawmakers. As the GENIUS Act becomes law, the world watches to see whether it positions the U.S. as a leader in digital currency or deepens the divide over crypto’s future.
