Washington – President Trump signed a historic bill to regulate cryptocurrency on Friday, one day after the bill adopted the Chamber despite opposition from the conservatives.
Legislation, called the GeniusThe first major law governing digital currency will be, establishing a regulatory framework for the Stablescoin market of $ 250 billion. Stable are considered a relatively safe type of cryptocurrency, because their value is fixed to other assets, such as the dollar. The bill adopted the Chamber Thursday with the support of 206 Republicans and 102 Democrats.
“We worked hard. It is a very important act, the act of genius. They named it,” joked the president in the room is to open the signature ceremony. “And I want to thank – I want to thank you. It’s a hell of a deed.”
Members of the Congress and senior executives of Robinhood, Tether, Gemini and other crypto and financial companies are present for the signature ceremony at the White House.
The fate of the genius law was in question earlier this week when a dozen curators thwarted a procedural vote. A compromise was finally reached and the selected allowed the legislation to continue. On Friday, the president suggested that he spoke to the detainee on the phone individually to persuade them, after the president of the room, Mike Johnson, told him that there were a dozen Republicans opposing the bill.
“The good news is, I call:” Hello Jim, how are you? “” Sir, you have my vote. Boom. “Sir, you have my vote.” I’m really fair, they just want a little love, “he said. “Unfortunately, they are still the same 12 people.”
Alex Brandon / AP
Trump also said that Vice-President JD Vance was on the phone late at night, helping to pass the legislation.
The legislators also approved two other cryptocurrency bills, capping what the Republicans had nicknamed “the crypto week” at the Congress. THE Clarity The law would regulate digital products beyond Anti-CBDC The state of surveillance law prevents the federal reserve from issuing any digital currency of the central retail bank directly to the Americans.
The act of genius was not the only bill to have made sure that the republicans of the chamber being wearing their hands this week. The Chamber also approved a request from the president to recover around $ 9 billion in funding for foreign aid and public broadcasting during a vote at the end of the night, by signing changes to the Senate made to the bill, known as the cancellation package, earlier this week.
The passage of the financing cups was sustain This week on democratic efforts to force the release of files related to the sentenced sex offender Jeffrey Epstein. In the end, the package adopted the room according to parties, two Republicans joining the Democrats to vote against. The bill dates back approximately $ 8 billion for foreign assistance efforts, notably by the American agency for international development, and around 1 billion dollars for public radio and television stations. The president should sign it soon.
“The Republicans have tried to do this for 40 years and failed … but more,” wrote Mr. Trump on Truth Social, referring to the reduction in the financing of the company which oversees the federal funds for NPR and PBS. “It’s big !!!”
Friday’s signature ceremony for the Genius Act takes place in the context of the increase in the emphasis on the Epstein case. Thursday evening, Mr. Trump ordered the Attorney General Pam Bondi to ask for the release of the Grand Jury linked to Epstein, a sexual offender who died in police custody in 2019. Trump A faces the increase in pressure To disclose more information on the case after the Ministry of Justice said that no other document would be published following an examination of evidence.
“Based on the ridiculous quantity of advertising given to Jeffrey Epstein, I asked the Attorney General Pam Bondi to produce all the relevant testimonies of the Grand Jury, subject to the approval of the court,” wrote the president Social truth. “This scam, perpetuated by the Democrats, should end, right now!”
Bondi said that the Ministry of Justice is “ready to move the court tomorrow to a great jury transcriptions”. A judge will launch the final call to find out if the equipment can be made public, and the process could take weeks or months.
Mary Cunningham and Caitlin Yilek contributed to this report.
