On July 18, President Donald Trump signed the GENIUS Act into law. The first major crypto legislation to become a law, it regulates stablecoins pegged to the U.S. dollar. For those unfamiliar, a stablecoin is a type of cryptocurrency that strives to keep its value stable, in comparison to usually volatile cryptocurrencies like Bitcoin, by being pegged to a fiat currency or a commodity. Trump believes his latest move would encourage the global adoption of the USD-pegged stablecoins and hence cement the dominance of the American national currency in international trade. The president's enthusiasm is understandable, ... (full story)