U.S. President Donald Trump on Friday signed a law to create a regulatory regime for U.S.-dollar-pegged cryptocurrencies known as stablecoins, a milestone that could pave the way for the digital assets to become an everyday way to make payments and move money.

President Trump signed into law a bill that establishes the first federal framework for dollar-backed stablecoins, a major victory for an industry that has pushed for more favorable oversight in Washington,