President Trump signed into law a bill that establishes the first federal framework for dollar-backed stablecoins, a major victory for an industry that has pushed for more favorable oversight in Washington,

President Trump took a step Friday toward his goal of giving the crypto industry clear rules of the road when he signed into law legislation establishing a regulatory framework for stablecoin issuers.

U.S. President Donald Trump on Friday signed the GENIUS Act into law, creating a long-sought regulatory framework for dollar-backed stablecoins.