The Genius Act produces rules for entities that issue stables Queens, which is priced to an asset like the US dollar. They rule the rules that have allowed the issuance of stables, how they need to maintain the reserves, what happens in the event of bankruptcy, and the responsibility of preventing money laundering.
Trump congratulated members of the Crypto Industry, who attended the signature ceremony in the White House, including coins and teachers’ CEOs. He created a complete contradiction between the Biden administration, which he called a “vicious group of people” who was “trying to crush your industry” and itself. “I have been so upset you guys,” Trump said.
“For years, the whole crypto community, for years, you have been mocked and dismissed and counted,” Trump said. “But this signature is a great confirmation of your hard work and your important spirit.” He added that he chose to return Crypto “in the early stages” as it would strengthen the US dollar. “And I did it for votes too,” he said by the audience a period of laughter, “Because you came out and voted.”
“This signature is a great verification of your hard work and your main spirit”
The bill was approved with bilateral cooperation through both chambers of the bilateral Congress, in which backers say it creates necessary security measures for the industry and keeps the United States competitive in space. But he also saw opposition to other members on both sides. Sean Josh Holi (R-Mo) criticized the bill as “Big Tech a great cheap”, citing concerns that it would encourage companies that issue stable queens to collect more financial data on consumers. In a speech on the Senate destination, Elizabeth Warren (DMA), a member of the Senate Banking Committee, said the bill was “touched by flaws and contains weak security arrangements for consumers, national security and financial stability.”
Warren and other Democrats have also warned that legalizing the Stubbank industry through legislation could strengthen a potential position for Trump for Trump. Trump’s family is included in the crypto firm World Liberty Financial, which launched its Establishment, USD1. The White House has said that the project does not create any dispute for the president because its assets are in confidence under their children.
“Through his crypto businesses, President Trump has created an effective means of trading with billions of dollars, billionaires and major corporations for foreign governments, such as tariff exemptions, apology, and hundreds of millions of government appointments.” “This is the only biggest corruption scandal in American history and, by passing the Generis Act, the Senate is not only blessing this corruption, but is actively facilitating its expansion.”
When Trump signed a talented act, he tried to pay attention to his predecessor as a “big scandal”. “Well it’s not an autopinic.” Trump said.
