Trump signed into law the GENIUS Act on Friday – a landmark piece of legislation that establishes federal regulations surrounding digital currency.

President Trump, who is rapidly expanding his fortunate by investing in crypto, has now signed the first major piece of crypto legislation into law.

President Donald Trump signed this week the GENIUS Act, a bill that will regulate a form of cryptocurrency called stablecoins. The move to regulate the crypto industry has been bipartisan, but Trump’s private crypto endeavors complicated the Congressional process.