Donald Trump signed the Genius ACT law, which introduces rather mild rules for stablecoins – digital coins tied to assets such as the dollar. During the signing ceremony, Trump openly admitted that he helped the cryptocurrency avoid big problems.
Last week, the US Department of Justice has stopped an investigation against the founder of the Kraken cryptocurrency, Jesse Powell, who was suspected of hacker attacks and persecution. This decision coincided with the position of Trump, which weakened the pressure on the crypto industry and stopped investigation against other crypto -films.
Previously, Trump also stopped attempts to hold the Chinese crypto -businessman Justin San, who donated money to Trump’s campaign.
In addition, Trump’s children recently launched their own stabilcoin, which will now work according to the new Genius Act rules.
