Trump signs landmark crypto bills into law, setting new rules for digital currency
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President Trump has signed the GENIUS Act and two other major crypto bills into law, marking a turning point for U.S. digital asset regulation.
- The GENIUS Act allows banks and licensed firms to issue stablecoins backed 1:1 by cash or equivalents.
- A separate bill blocks the Federal Reserve from creating a central bank digital currency.
- The CFTC now has clearer authority over non-security crypto assets under the new market structure law.
President Trump made it official. Just one day after the House pushed three key crypto bills through with Republican support and some help from across the aisle, all three were signed into law. That bundle included the long-anticipated GENIUS Act, a market structure bill, and another that stops the creation of a Federal Reserve-issued digital dollar. Crypto users, financial observers, and policymakers around the country, including Maryland, are now watching closely to see what this means on the ground.
The GENIUS Act sets new federal rules for stablecoins. Banks and licensed nonbank firms can now issue them as long as they hold one-to-one reserves. The bill had already passed the Senate a month earlier and was expected to get House backing, but the quick movement toward a signature still surprised some observers.
With national guardrails now in place, platforms that deal in blockchain-based payments or digital gaming may feel more secure moving forward. Likewise, those investing in presale tokens like MAXI will likely have more protection for their funds. This gives investors a chance to potentially make more money, as these coins often rise in value, unlike more rigid stablecoins.
Supporters say the law finally offers a national framework for digital dollars backed by cash or equivalents. Critics worry it could create more confusion if enforcement varies across agencies.
One of the more debated elements in the package was the bill to block a central bank digital currency, or CBDC. That idea had picked up steam in past years as officials studied whether the Fed should issue a digital dollar. But Trump, who’s positioning himself as crypto-friendly, has made clear he wants nothing to do with that. He called the CBDC bill a safeguard against government surveillance and said the country needs to protect financial freedom at all costs. That message played well with many in the crypto space, who have long seen centralized digital currencies as risky.
With that bill now signed, the Fed is officially barred from developing or launching a CBDC. For many users, that means any movement toward digitized currency will stay in the hands of the private sector.
The market responded quickly. In the hours after the vote and the President’s signature, Bitcoin prices spiked and Ethereum followed. Some industry watchers say this shows confidence, not just in the tokens, but in the idea that the U.S. is signaling real support for digital assets. In announcing the new laws, Trump’s team said the country is ready to become the crypto capital of the world.
The second bill in the package, the Financial Innovation and Technology for the 21st Century Act, gives more authority to the Commodity Futures Trading Commission when it comes to regulating digital assets that are not considered securities. This has been a sticking point for years, with ongoing debates about whether the SEC or CFTC should take the lead.
Now, at least for certain crypto tokens and products, the CFTC will have that role. Not everyone is happy about that. Some consumer advocates have said this weakens existing protections, since the CFTC has fewer tools and less experience with investor-focused rules.
What happens next may not come all at once. Agencies still need to create guidance, companies need to review how they handle customer assets, and consumers will likely continue sorting out what platforms they trust. Across Maryland, as in much of the country, interest in crypto has changed from speculation to questions about legality, compliance, and how to navigate these changes.
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