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.

The GENIUS Act is the formal name for the stablecoin bill: Guiding and Establishing National Innovation for U.S. Stablecoins. The stablecoin bill regulates how stablecoin issuers operate in the U.S.