US passes first major national crypto legislation

The US passes monumental cryptocurrency legislation, the first of its kind, focusing on regulating stablecoins. Named the Genius Act, the bill seeks to provide clear rules for the crypto industry's growth and development. Despite criticism citing potential risks and lack of consumer protection, the legislation aims to keep the US at the forefront of payment system innovation. Trump is expected to sign the bill into law, marking a significant step towards mainstreaming digital currencies.