Tag #Genius Act

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forbes.com

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Jul 25, 22:12

GENIUS Act Reshapes Stablecoin Market

The GENIUS Act, the first U.S. federal legislation specifically addressing stablecoins, mandates increased transparency and reporting for issuers, opening the market to competition from traditional financial institutions while simultaneously prompting crypto-native issuers to diversify revenue strea...

GENIUS Act Reshapes Stablecoin Market

The GENIUS Act, the first U.S. federal legislation specifically addressing stablecoins, mandates increased transparency and reporting for issuers, opening the market to competition from traditional financial institutions while simultaneously prompting crypto-native issuers to diversify revenue strea...

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What are the immediate implications of the GENIUS Act's requirement for stablecoin issuers to meet standard U.S. market reporting and disclosure standards?

The GENIUS Act, the first federal pro-crypto legislation, mandates monthly disclosures, annual audits, and CEO/CFO certifications for stablecoin issuers, aligning them with standard U.S. market reporting requirements. This irrevocably alters the stablecoin landscape, opening it to increased competition from traditional financial institutions.

forbes.com

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Jul 24, 13:15

IRS Classifies Crypto as Property: Tax Rules Remain Unchanged

Despite new crypto legislation, the IRS maintains its 2014 classification of cryptocurrencies as intangible property for tax purposes, impacting trader strategies and leaving key tax rules unchanged for both investors and traders.

IRS Classifies Crypto as Property: Tax Rules Remain Unchanged

Despite new crypto legislation, the IRS maintains its 2014 classification of cryptocurrencies as intangible property for tax purposes, impacting trader strategies and leaving key tax rules unchanged for both investors and traders.

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What impact do the GENIUS and CLARITY Bills have on the tax treatment of cryptocurrencies?

The IRS's classification of crypto as property, established in Notice 2014-21, determines its tax treatment under capital gains rules. This contrasts with securities (subject to wash sale rules) and commodities (potentially qualifying for Section 1256 treatment). While the new legislation introduces regulatory clarity, it doesn't alter the fundamental tax classification of most crypto assets.

forbes.com

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Jul 19, 01:14

GENIUS Act Establishes Federal Stablecoin Regulations

President Trump signed the GENIUS Act into law, establishing a federal regulatory framework for dollar-backed stablecoins; issuers must be subsidiaries of insured institutions, federally chartered nonbanks, or state-regulated entities meeting Treasury standards, and must maintain 1-to-1 backing with...

GENIUS Act Establishes Federal Stablecoin Regulations

President Trump signed the GENIUS Act into law, establishing a federal regulatory framework for dollar-backed stablecoins; issuers must be subsidiaries of insured institutions, federally chartered nonbanks, or state-regulated entities meeting Treasury standards, and must maintain 1-to-1 backing with...

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How does the GENIUS Act address concerns about consumer protection and financial stability in the stablecoin sector?

The act categorizes eligible stablecoin issuers as subsidiaries of insured institutions, federally chartered nonbanks, or state-regulated entities meeting Treasury standards. It prioritizes stablecoin holder bankruptcy claims and prohibits commingling of customer funds, aiming to enhance investor protection and market stability. This signals a move towards greater regulatory oversight of the cryptocurrency market.

abcnews.go.com

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Jul 19, 10:12

Trump Signs GENIUS Act, Regulating Stablecoins Amidst Ethical Concerns

President Trump signed the GENIUS Act, establishing new regulations and consumer protections for stablecoins, boosting the crypto industry's political influence and aiming to make the U.S. the global leader in the crypto market, though raising ethical questions due to his family's involvement in the...

Trump Signs GENIUS Act, Regulating Stablecoins Amidst Ethical Concerns

President Trump signed the GENIUS Act, establishing new regulations and consumer protections for stablecoins, boosting the crypto industry's political influence and aiming to make the U.S. the global leader in the crypto market, though raising ethical questions due to his family's involvement in the...

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How did the cryptocurrency industry's political engagement influence the passage of the GENIUS Act?

The GENIUS Act's passage reflects the crypto industry's growing political influence, achieved through substantial campaign donations and lobbying. Trump's support, despite past skepticism, underscores the industry's strategic political engagement and its potential for economic impact.

forbes.com

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Jul 19, 16:13

Bitcoin Hits Record High as Trump Signs Genius Act

Bitcoin reached a record high of \$123,000 this week, driven by a broader crypto market rally totaling \$4 trillion, following President Trump's signing of the Genius Act, a bill regulating stablecoins and potentially establishing a U.S. bitcoin reserve.

Bitcoin Hits Record High as Trump Signs Genius Act

Bitcoin reached a record high of \$123,000 this week, driven by a broader crypto market rally totaling \$4 trillion, following President Trump's signing of the Genius Act, a bill regulating stablecoins and potentially establishing a U.S. bitcoin reserve.

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What is the immediate impact of the Genius Act's passage and the resulting cryptocurrency market surge on global finance?

The Bitcoin price surged to a record high of \$123,000 this week, fueled by a broader cryptocurrency rally and the passage of the Genius Act stablecoin bill. This rally lifted the combined value of major cryptocurrencies to \$4 trillion for the first time. President Trump signed the bill, aiming to cement U.S. dominance in global finance and crypto technology.

dw.com

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Jul 19, 07:10

Trump Signs Law Regulating Stablecoins Amidst Crypto Industry's Political Influence

US President Trump signed the GENIUS Act, establishing a regulatory framework for stablecoins, requiring them to be backed by liquid assets and pegged to the US dollar; the crypto industry donated over \$245 million to pro-crypto candidates in the last election, and critics express concern about ins...

Trump Signs Law Regulating Stablecoins Amidst Crypto Industry's Political Influence

US President Trump signed the GENIUS Act, establishing a regulatory framework for stablecoins, requiring them to be backed by liquid assets and pegged to the US dollar; the crypto industry donated over \$245 million to pro-crypto candidates in the last election, and critics express concern about ins...

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What are the immediate consequences of the GENIUS Act's passage for the use and regulation of stablecoins in the US?

The GENIUS Act, signed into law by President Trump, establishes a regulatory framework for stablecoins, aiming to facilitate their use in payments and money transfers. This follows a significant political push by the crypto industry, which contributed over \$245 million to pro-crypto candidates in the last election. The act mandates that stablecoins maintain a 1:1 peg to the US dollar and be backed by liquid assets.

forbes.com

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Jul 25, 01:14

GENIUS Act: Mixed Implications for US Stablecoin Market

The GENIUS Act, signed into law, regulates US payment stablecoins, clarifying definitions for some digital asset service providers while imposing strict rules on issuers and granting significant rule-making power to the Stablecoin Review Board and the Treasury Secretary.

GENIUS Act: Mixed Implications for US Stablecoin Market

The GENIUS Act, signed into law, regulates US payment stablecoins, clarifying definitions for some digital asset service providers while imposing strict rules on issuers and granting significant rule-making power to the Stablecoin Review Board and the Treasury Secretary.

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What are the immediate impacts of the GENIUS Act on the issuance and regulation of payment stablecoins in the US?

The GENIUS Act, the first US legislation directly addressing stablecoins, primarily focuses on payment stablecoins, imposing strict regulations on issuers and leaving the definition of other purposes open-ended. This creates a mixed impact, offering clarity for some digital asset service providers while imposing significant restrictions on stablecoin issuers and leaving many questions unanswered.

npr.org

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Jul 20, 07:09

GENIUS Act Passes: Faster Crypto Transactions, But Consumer Protection Concerns Remain

The GENIUS Act, signed into law, regulates stablecoins, enabling faster and cheaper international transactions, but consumer advocates raise concerns about weak consumer protections and President Trump's financial interests in the crypto sector.

GENIUS Act Passes: Faster Crypto Transactions, But Consumer Protection Concerns Remain

The GENIUS Act, signed into law, regulates stablecoins, enabling faster and cheaper international transactions, but consumer advocates raise concerns about weak consumer protections and President Trump's financial interests in the crypto sector.

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What are the immediate consequences of the GENIUS Act's passage for international finance and consumer protection?

The GENIUS Act, recently signed into law, establishes regulations for stablecoins, a type of cryptocurrency backed by real cash. This allows for faster and cheaper international transactions, but raises concerns about conflicts of interest due to President Trump's involvement in the crypto sector.

t24.com.tr

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Jul 19, 01:14

Trump Signs "GENIUS" Bill: Regulating Stablecoins to Bolster US Dollar

President Trump signed the "GENIUS" bill, a bipartisan initiative establishing a regulatory framework for dollar-backed stablecoins, passed by the Senate (68-30) and the House (308-122), to strengthen the US dollar and promote US dominance in the global crypto market.

Trump Signs "GENIUS" Bill: Regulating Stablecoins to Bolster US Dollar

President Trump signed the "GENIUS" bill, a bipartisan initiative establishing a regulatory framework for dollar-backed stablecoins, passed by the Senate (68-30) and the House (308-122), to strengthen the US dollar and promote US dominance in the global crypto market.

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What are the immediate impacts of President Trump signing the "GENIUS" bill on the US crypto market and global financial landscape?

President Trump signed the "GENIUS" bill, aiming to regulate the stablecoin market and strengthen US dominance in global crypto technology. He thanked the crypto sector for contributing to the US's strength, highlighting stablecoins' rapid growth and portraying the sector as beneficial for the US dollar and the country.

forbes.com

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Jul 19, 16:13

GENIUS Act Establishes First U.S. Stablecoin Regulatory Framework

President Trump signed the GENIUS Act into law on July 18, 2025, establishing the first U.S. federal framework for stablecoin regulation, requiring full reserve backing in U.S. dollars or Treasuries, monthly reserve disclosures, and annual audits for issuers exceeding $50 billion in circulation, to ...

GENIUS Act Establishes First U.S. Stablecoin Regulatory Framework

President Trump signed the GENIUS Act into law on July 18, 2025, establishing the first U.S. federal framework for stablecoin regulation, requiring full reserve backing in U.S. dollars or Treasuries, monthly reserve disclosures, and annual audits for issuers exceeding $50 billion in circulation, to ...

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What are the immediate implications of the GENIUS Act's implementation on the U.S. stablecoin market and consumer protection?

The GENIUS Act, signed into law on July 18, 2025, establishes the first comprehensive federal framework for stablecoins in the U.S., mandating full reserve backing in U.S. dollars or Treasuries and monthly reserve disclosures for issuers exceeding $50 billion in circulation. This directly impacts consumer protection and financial stability by introducing much-needed oversight in a previously unregulated market.

npr.org

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Jul 19, 16:13

GENIUS Act: US Passes First Major Cryptocurrency Legislation

President Trump signed the GENIUS Act into law, establishing regulations for stablecoins and marking a significant shift in U.S. cryptocurrency policy; the CLARITY Act, which would transfer regulatory oversight to the CFTC, is awaiting Senate approval.

GENIUS Act: US Passes First Major Cryptocurrency Legislation

President Trump signed the GENIUS Act into law, establishing regulations for stablecoins and marking a significant shift in U.S. cryptocurrency policy; the CLARITY Act, which would transfer regulatory oversight to the CFTC, is awaiting Senate approval.

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How did lobbying efforts by the crypto industry influence the development and passage of the GENIUS Act?

The GENIUS Act's passage reflects a shift in U.S. policy towards cryptocurrencies, moving from a hands-off approach to active regulation. This follows significant lobbying efforts by the crypto industry, which spent over $100 million in Congressional races last year. The act mandates reserves and transparency for stablecoin companies and establishes anti-money laundering rules.

theglobeandmail.com

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Jul 19, 01:14

GENIUS Act Creates Stablecoin Regulatory Framework

President Trump signed the GENIUS Act, creating a regulatory framework for stablecoins, potentially expanding their market value to \$2 trillion by 2028 and increasing demand for U.S. Treasury bills, despite concerns about big tech influence and anti-money laundering.

GENIUS Act Creates Stablecoin Regulatory Framework

President Trump signed the GENIUS Act, creating a regulatory framework for stablecoins, potentially expanding their market value to \$2 trillion by 2028 and increasing demand for U.S. Treasury bills, despite concerns about big tech influence and anti-money laundering.

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How might the GENIUS Act affect the U.S. Treasury bill market and what are the potential risks?

The Act, passed with bipartisan support, requires stablecoins to be backed by liquid assets and mandates monthly reserve disclosures. This aims to enhance credibility and encourage wider adoption by banks and consumers, potentially increasing demand for U.S. Treasury bills.

Showing 1 to 12 of 35 results