Trump Declares Genius Act Key to America’s Crypto Leadership
President Trump recently praised a new bill he called the “Genius Act.” He said it would be the foundation for America’s dominance in digital assets. He told a group of investors and crypto supporters that the act was a bold plan to encourage innovation while protecting consumers and the economy of the country. This change is significant because Trump is becoming more involved in shaping U.S. crypto policy ahead of the next election.
Trump said that the Genius Act would make U.S. digital currency technology better than that of other countries by making rules easier to follow and encouraging private sector investment. He said that America could benefit both economically and in terms of global influence by having more than $2 trillion flow through digital asset platforms. This announcement comes at a time when both parties in Congress are becoming more interested in passing constructive crypto laws.
Linking Policy to Market Progress
The Genius Act would make rules clearer by saying who can be a security or commodity and setting up a system for licensing exchanges and wallet providers. It also has protections for retail investors and anti-money laundering measures. Trump made it clear in his speech that clarity is important for innovation, not stifling it. He talked about how mixed messages from regulators recently pushed crypto businesses offshore.
He wrote on Truth Social that the Senate “just passed an incredible Bill” that will make the US “the UNDISPUTED Leader in Digital Assets.” He stressed that there would be “NO DELAYS, NO ADD-ONS,” so there was no room for changes or delays.
Analysts say that if lawmakers support things like institutional licensing, the Act could free up trillions of dollars in capital and lead to more institutions using it. The bill also fits with global competition. Countries like Singapore and the EU have already made big steps toward better crypto policies. The EU’s Markets in Crypto Assets regulation is almost ready to go into effect.
Why the Genius Act is Important for the Growth of Crypto
The proposal comes at a crucial time. Last month, more money than ever before went into Bitcoin and Ethereum through retail investors. This was because of easier ways to invest, like ETFs. But there is still uncertainty because different agencies, like the SEC, CFTC, and FinCEN, don’t work together. The Genius Act could help the mass market accept it and lower systemic regulatory risk by making responsibilities clear and setting clear limits.
If it passes, crypto companies might feel more confident about launching decentralized finance tokens in the US and building infrastructure like stablecoin custody services and smart contract platforms. This possible rise in crypto activity in the US would be very different from the last decade, when many entrepreneurial companies left the country. The chairman of the Federal Reserve recently called for rules that are fair to everyone so that the US doesn’t lose its place in the digital financial world to other countries.
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