Republicans Support the GENIUS of Crypto Innovation, President Trump Signs Landmark Stablecoin Legislation into Law
WASHINGTON – Today, President Donald Trump signed the GENIUS Act into law, marking the first ever stablecoin legislation enacted in the United States. Following months of negotiations, the bill, first introduced by U.S. Senator Bill Hagerty (R-TN), passed the U.S. Senate on June 17th, 2025 and later passed the U.S. House of Representatives on July 17, 2025.
Jessica Anderson, President of the Sentinel Action Fund, released the following statement:
“President Trump and Congressional Republicans have made history by passing and enacting the GENIUS Act, legislation that will bolster American innovation and strengthen our country’s economy. The first legislation of its kind, the GENIUS Act follows through on the promises Republicans made on the campaign trail and proves to voters that strong Republican leadership is necessary to provide digital freedom to all Americans.
Today’s victory could not have been possible without the months of negotiations and hard work done by Senator Hagerty and his team along with Leader John Thune, Senate Banking Chairman Tim Scott and Senate Republicans. This win was also made possible by the strong Republican Senate majority and the new majority making, pro-crypto Senators Bernie Moreno (R-OH), Tim Sheehy (R-MT), and Dave McCormick (R-PA) that voters sent to Washington to help these efforts.”
U.S. Senator Bill Hagerty (R-TN), said:
“Today, President Trump signed my legislation — the GENIUS Act — into law. GENIUS will bring America’s payment system into the 21st century, ensure America is the hub for innovation in digital assets, and will increase demand for US Treasuries. I want to thank my colleagues in Congress, the President’s leadership for shepherding this landmark legislation that opens the door for US dominance in this vital industry, and the industry stakeholders for their support.”