As Trump prepares to sign the law, Consumer Reports' senior director monitoring digital marketplaces, Delicia Hand, told Ars that the group plans to work with other consumer advocates and the implementing regulator to try to close any gaps in the stablecoin legislation that would leave Americans vulnerable.

Ether climbed to end the week as President Donald Trump signed the GENIUS Act into law, while bitcoin and its proxies took a breather. Crypto stocks gave up earlier gains as the broader market took a leg lower,

President Donald Trump is slated Friday to sign the first major federal law governing cryptocurrency, a business that Trump's family have begun forging strong ties to and have promoted in recent years.

However, as Congress moves on to debate a second bill that would create regulations around cryptocurrencies and exchanges, critics warn that the passage of stablecoin legislation

The U.S. House of Representatives on Thursday passed a bill to create a regulatory framework for U.S.-dollar-pegged cryptocurrency tokens known as stablecoins, sending the bill to President Donald Trump,

With the passage of the bill, large banks are looking into their own stablecoins or partnering with the sector, while concerns linger about state regulation, the separation of banking and commerce and the disintermediation of the banking system.

In a landmark victory for the crypto industry, President Donald Trump signed the GENIUS Act into law, establishing a regulatory framework for a type of digital currency known as stablecoins.

President Donald Trump on Friday signed the GENIUS Act into law, calling it a landmark move for crypto regulation and joking that it was named after him.