President Trump signs GENIUS Act, creating stablecoin regulatory framework: CNBC Crypto World

Quick Overview

The U.S. House of Representatives passed three crypto-related bills, including the GENIUS Act for stablecoin regulation, which now heads to President Trump's desk for an expected signature, marking the first major standalone crypto rules signed into law. This legislative progress has spurred major financial institutions like JPMorgan Chase and Charles Schwab to deepen their involvement in the crypto space, while Ether ETFs saw record inflows, surpassing Bitcoin ETFs for the first time.

Key Points: The U.S. House of Representatives passed three crypto-related bills, including the GENIUS Act for stablecoin regulation, which is now on President Trump's desk. The GENIUS Act, already passed by the Senate, is expected to be signed into law by President Trump, establishing consumer protections for stablecoins. The CLARITY Act, aimed at creating a market structure framework for crypto, and the Anti-CBDC Surveillance State Act, preventing a Fed digital currency, also passed the House and moved to the Senate. Ether ETFs saw record daily inflows of over $600 million, surpassing Bitcoin ETFs for the first time, contributing to Ether's over 19% weekly gain. Major financial institutions like JPMorgan Chase, CitiGroup, and Bank of America are preparing to engage in the stablecoin space following the new regulatory clarity. Charles Schwab anticipates launching Bitcoin and Ether ETFs, expecting accelerated growth as clients seek to consolidate their crypto holdings with trusted platforms. The crypto industry's influence in Washington continues to grow, with significant financial contributions from crypto PACs to political campaigns.

Context: This CNBC Crypto World segment, aired on July 18, 2025, provides an update on the latest developments in cryptocurrency regulation and market performance. It highlights significant legislative progress in the U.S. House of Representatives, particularly concerning stablecoins, and examines how major financial institutions are responding to these evolving regulatory landscapes. The report also touches on the current state of key cryptocurrency prices and the increasing political influence of the crypto industry.