Trump vows to make US ‘world capital of crypto,’ taps Musk for new task force
Republican leaders on the Senate Banking Committee said the legislation “built on” the CLARITY Act passed in the House of Representatives last week.
The investigation was reportedly not connected to Jesse Powell’s activities within the crypto industry.
The Genius Act is a US law aimed at establishing federal oversight for stablecoin issuers, setting rules for reserves, redemption rights, and licensing requirements.
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