No to CBDCs, yes to dollar-backed crypto: Trump signs GENIUS Act

By Ross O’Keefe | Washington Examiner

President Donald Trump is signing the GENIUS Act, which will regulate stablecoin cryptocurrencies, whose values are pegged to the U.S. dollar, at around 2:30 p.m. Friday.

Trump needed to convince about a dozen Republicans to vote for the bill after they stalled it due to certain provisions not included in the bill, namely, the lack of a ban on central bank digital currency. They agreed to vote for it after the president’s intervention.

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