White House Cryptocurrency Officer Bo Hines Announced: "Trump will sign a decision today that will change the fate of Cryptocurrencies!"

Bo Hines, the Executive Director of the U.S. Digital Holdings Presidential Advisory Council, announced today that President Donald Trump will enact the most comprehensive regulation in the history of cryptocurrency.

Hines said, "This afternoon President Trump will sign the GENIUS Act, the most monumental crypto law in American history. This secures the dominance of the dollar, opens the doors to innovation, and positions the U.S. as a permanent leader in the future of digital finance."

Yesterday, the House of Representatives overwhelmingly approved the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, the country’s first major cryptocurrency regulation. The bill will be formalized with President Trump’s signature.

The law establishes a framework of rules for issuers of stablecoins. These digital holdings, pegged to 1 dollar, stand out as a fast and low-cost payment method. The GENIUS Act requires stablecoin issuers to back each coin with low-risk assets at a 1:1 ratio, to report to regulatory agencies at the state or federal level, and to implement strict controls against money laundering.

In June, Treasury Secretary Scott Bessent stated that this regulation could allow the stablecoin economy to rise from 195 billion dollars to over 2 trillion dollars.

President Trump had promised to make the U.S. "the crypto center of the world" during his election campaign. After the bill passed the Senate in June, Trump had requested the House to send him the bill "without any additions or changes" as soon as possible. This request is being fulfilled today.