Crypto Gets a Big Boost: New Law Aims to Protect Investors

President Donald Trump has put his signature on a new law that's set to shake up the crypto world. This law, called the GENIUS Act, is all about making sure people feel safe when they're dealing with stablecoins. These are a type of cryptocurrency that's tied to things like the U. S. dollar, so they don't go up and down in value as much as other cryptocurrencies. The crypto industry has been growing super fast and has been spending a lot of money to make sure people in Washington take them seriously. Trump has been a big supporter of crypto lately, even though he used to be skeptical. He even joked that the law was named after him, which stands for "Guiding and Establishing National Innovation for U. S. Stablecoins. "But it's not all good news. The law stops members of Congress and their families from making money off stablecoins, but it doesn't stop the president and his family from doing so. Trump's family has a big stake in a crypto project called World Liberty Financial, which launched its own stablecoin earlier this year. The House also passed two other bills that could help the crypto industry. One creates a new market structure for cryptocurrency, and the other stops the Federal Reserve from issuing a new digital currency. These bills are now heading to the Senate.