Trump signs GENIUS Act — banks can issue stablecoins

Trump signs the GENIUS Act, allowing banks, non-banks, and credit unions to issue stablecoins. The legislation legitimizes dollar-pegged digital currencies at the institutional level. The irony: the US is simultaneously fighting de-dollarization abroad while building crypto infrastructure at home. Stablecoins could extend the dollar’s reach — or they could accelerate the transition to a multi-currency world where Bitcoin is the neutral settlement layer.