President Donald Trump on Friday signed the first major federal law governing cryptocurrency, a business that Trump's family has begun forging strong ties to and has promoted in recent years.

President Donald Trump has signed the GENIUS Act into law, setting new regulations for stablecoins, a type of cryptocurrency tied to assets like the U.S. dollar.

In a pivotal moment for the cryptocurrency industry, President Trump signed the GENIUS Act into law, establishing new regulations for stablecoins. This legislation, backed by bipartisan support, aims to enhance consumer confidence and solidify the U.