Genius Act, Trump and cryptocurrency
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Nik Bhatia, Founder of The Bitcoin Layer and an Adjunct Finance Professor at USC Marshall School of Business, reacts to the passing of the crypto 'Genius Act' bill by the White House.
The stablecoin bill, known as the Genius Act, and the crypto market structure bill, known as the Clarity Act, both received notable bipartisan support. Democratic lawmakers joined with Republicans to pass the stablecoin bill 308-122.
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President Donald Trump is signing the GENIUS Act, which will regulate cryptocurrency, on Friday at around 2:30 p.m.
Here are some of the latest stories Wall Street is watching on Friday, July 18. Federal Reserve Chair Jerome Powell is defending the Fed’s $2.5 billion headquarters renovation amid criticism from the White House.