David Sacks announces the signing of the GENIUS Act, which aims to establish a legal framework for stablecoins and enhance the dollar's global dominance.
David Sacks, the White House's director of cryptocurrency and artificial intelligence, stated that President Trump signed the GENIUS Act, establishing a legal framework for stablecoins. The act aims to enhance U.S. dominance in the cryptocurrency industry by providing clear regulations and replacing outdated payment systems with blockchain technology, while also creating a universal digital dollar.