GENIUS Act Signed Into Law

President Trump recently signed into law the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. The GENIUS Act establishes the first U.S. regulatory framework for stablecoins, which can be defined as digital assets whose value is tied to a more traditional asset such as a fiat currency (e.g., the U.S. dollar or a commodity), thereby minimizing price volatility.