President Donald Trump on Friday signed the GENIUS Act into law, in a major milestone for the crypto industry and the president’s stated goal of reshaping American crypto policy.

President Trump signed the GENIUS Act, a law designed to regulate payment stablecoins and bring legitimacy to the cryptocurrency industry. Officially titled "Guiding and Establishing National Innovation for US Stablecoins,

Bipartisan majorities back the first federal cryptocurrency measure to reach a president’s desk. It restricts the issuance of stablecoins to a set of authorized firms.