Jakarta, Indonesia Sentinel — U.S. President Donald Trump has officially signed into law a groundbreaking bill that regulates stablecoin, a type of cryptocurrency pegged to the U.S. dollar. The new legislation marks a significant milestone in the government’s effort to integrate digital assets into everyday payment systems.
The bill called the “GENIUS Act,” passed the House of Representatives with bipartisan support, garnering 308 votes in favor and 122 against. Nearly half of House Democrats joined a majority of Republicans in backing the legislation, which had already cleared the Senate.
For crypto advocates, the passage of the bill represents a major win after years of lobbying for clearer regulations to bring legitimacy to an industry often associated with volatility and speculation since its emergence in 2009.
“This signing is a powerful validation of your hard work and pioneering spirit,” Trump said during an official ceremony on Friday, July 18, 2025, attended by dozens of government officials, crypto industry leaders, and lawmakers, as reported by Reuters. “This is good for the dollar, and it’s good for the country,” he added.
U.S. Treasury Secretary Scott Bessent welcomed the legislation, saying it would reinforce the dollar’s role as the world’s primary reserve currency. He also noted that the new rules could expand global access to the dollar economy and increase demand for U.S. Treasuries, which serve as collateral for many stablecoins.
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Stablecoins are digital tokens designed to maintain a stable value, typically pegged 1:1 to the U.S. dollar. Their value is backed by tangible assets such as cash or short-term government bonds. Usage of stablecoins has surged in recent years, especially among cryptocurrency traders seeking liquidity and low-volatility options.
Under the new law, stablecoin issuers must back their tokens exclusively with liquid assets and disclose their reserve compositions publicly on a monthly basis. Crypto companies and industry supporters argue that the regulation will boost stablecoin credibility and unlock broader adoption among banks, businesses, and everyday consumers for fast, digital transactions.
According to digital asset data provider CoinGecko, the current stablecoin market is valued at more than $260 billion. Meanwhile, analysts at Standard Chartered forecast that the sector could balloon to $2 trillion by 2028 if the new regulations are implemented effectively.
(Raidi/Agung)
