On July 18, President Donald Trump signed the Genius Act, a law establishing a regulatory framework to bring stablecoins, a type of cryptocurrency, into the mainstream financial system.
During the signing ceremony at the White House, President Trump stated, “The Genius Act creates a clear and simple regulatory framework that solidifies and realizes the tremendous potential of dollar-backed stablecoins.”

He added, “This could perhaps be the greatest revolution in financial technology since the birth of the internet.”Stablecoins are cryptocurrencies designed to maintain a fixed exchange value with fiat currencies like the U.S. dollar. Due to their stable value, convenience in transactions, and lower fees compared to banks, stablecoins have been widely used for international remittances, leading to rapid industry growth.

However, they have long existed in a regulatory gray area, prompting the cryptocurrency industry to advocate for regulatory legislation to promote stablecoin adoption.
To maintain their value, stablecoins are backed by liquid assets. The Genius Act mandates that stablecoins be backed by assets of equivalent value, such as U.S. dollars or short-term U.S. Treasury securities.

President Trump emphasized, “This will increase demand for U.S. Treasury securities, lower interest rates, and solidify the dollar’s status as the world’s reserve currency for generations to come. The reserve currency is critical. Losing it would be like losing a world war.”

Additionally, during the ceremony, while introducing attendees, President Trump highlighted Commerce Secretary Howard Lutnick, who is overseeing trade negotiations, stating, “We have several major deals that will be announced very soon.”Since announcing reciprocal tariffs in April, the Trump administration has been engaged in trade negotiations with major trading partners, including South Korea, focusing on tariff rates and expanding market access to the U.S.

So far, agreements have been reached with the United Kingdom, Vietnam, and Indonesia. In a media interview on July 16, President Trump indicated that a deal with India is very close and that an agreement with the European Union (EU) is also possible.