US Passes First Major National Crypto Legislation | JQJO

The US has passed its first major national cryptocurrency legislation, a significant step for the industry. The Genius Act, backed by President Trump, establishes a regulatory framework for stablecoins, requiring them to be backed by US dollars or low-risk assets. While supporters see it as promoting clarity and growth, critics worry about increased financial system risks and insufficient consumer protection. The bill passed with bipartisan support despite concerns about its implications and Trump's business ties to the crypto sector. It's expected to be signed into law on Friday.