Latest news with #GENIUSAct
Arabian Post
an hour ago
- Business
- Arabian Post
GENIUS Act Paves the Way for Regulated Stablecoins
Arabian Post Staff -Dubai A landmark federal framework for stablecoins became law on 18 July 2025, when President Donald Trump signed the Guiding and Establishing National Innovation for U. S. Stablecoins Act. The legislation mandates that stablecoins — digital currencies pegged one‑to‑one to the U. S. dollar or short‑term Treasury bills — must be fully backed by liquid reserves, publicly disclose holdings monthly, and comply with anti‑money laundering and consumer protection rules. The Act clears a path for both banks and approved non‑bank entities to issue payment stablecoins under a dual licensing system, encompassing federal and state oversight. It also creates a formal category for such assets, offering legal clarity that had eluded stablecoin issuers until now. ADVERTISEMENT Despite bipartisan support in Congress — with Senate approval on 17 June and House passage on 17 July — the new law has drawn criticism. Some lawmakers and experts argue it falls short on stricter anti‑money laundering measures and allows big tech firms to issue stablecoins with fewer regulatory hurdles than traditional banks. Trump lauded the Act during the White House signing ceremony, calling it 'a hell of an act' and asserting it will solidify American crypto leadership and support the dollar's global primacy. He noted the GENIUS Act 'creates a clear and simple regulatory framework' capable of unleashing innovation and enhancing payment systems. Stakeholders across finance and fintech are re-evaluating their strategies. Traditional banks are preparing pilot programmes and exploring partnerships to issue or facilitate stablecoins, while crypto firms like Circle and Coinbase, which have backed U. S. stablecoin issuance earlier, have seen share prices rise following the law's enactment. In parallel, the law aims to channel demand into U. S. Treasuries, reinforcing the dollar's global role. Treasury Secretary Scott Bessent highlighted that requiring asset backing in government debt would deepen Treasury markets. Financial institutions are bracing for increased reserve purchases and adjustments in asset allocation strategies. The Act introduces rigorous governance: stablecoin issuers must implement reserve audits, adhere to marketing restrictions—such as avoiding government endorsement claims—and prioritise redeeming customer claims ahead of other creditors in insolvency scenarios. It also extends anti‑money laundering obligations under the Bank Secrecy Act, granting treasury authorities power to freeze illicit funds. Though heralded as a milestone, implementation remains complex. Regulators are expected to issue detailed rules within a year, and the Act's 'effective date' is projected for late 2026, contingent on final regulatory actions or an 18‑month grace period. Global central banks and fintech players are watching closely. Some expect U. S. leadership in regulated digital currencies could spur innovation overseas, while others warn that insufficient guardrails may encourage regulatory arbitrage. Foreign issuers may enter the U. S. market if they meet rigorous Treasury approval, including comparable home‑jurisdiction oversight and U. S.-based reserve management. Market response has been immediate: global crypto valuations have surged past $4 trillion, led by strong gains in bitcoin and ether amidst expectations of broader stablecoin integration. Industry experts suggest stablecoins may soon become mainstream payment tools, with major retailers and tech giants like Google, Uber and Apple exploring adoption. However, voices of caution persist. Critics say the framework could permit big tech to bypass stricter banking regulations, heightening systemic risks, and that consumer safeguards remain inadequate. Transparency International warned the law might provide loopholes exploitable by criminals or hostile regimes. As rule‑making proceeds and industry adapts, the GENIUS Act marks a fundamental shift in U. S. crypto policy — ushering stablecoins from regulatory limbo into a legalised, structured, but contested future.
National Post
2 hours ago
- Business
- National Post
Anchorage Digital Partners with Ethena Labs to Launch the First GENIUS-Compliant; Federally Regulated Stablecoin
Article content SAN FRANCISCO — Anchorage Digital, home to the first and only federally chartered crypto bank, today announced a strategic partnership with Ethena Labs, the creator of USDe and USDtb, to bring USDtb to the U.S. as the first-ever stablecoin with a clear pathway to becoming compliant with the recently enacted GENIUS Act—America's new law to regulate issuance of stablecoins. Article content The launch will be the first to leverage Anchorage Digital's stablecoin issuance platform—a turnkey solution for institutions to launch and distribute fully regulated digital dollars. Anchorage Digital's decision to partner with Ethena, a project focused on developing secure, compliance-driven rails and products that provide institutional investors with access to the unique advantages of digital assets, marks a significant step forward in aligning innovation with regulation in the U.S. financial system. Article content Under the partnership, the USDtb stablecoin—which is currently issued offshore—will be issued in the U.S. by Anchorage Digital Bank, positioning the firm as the leading U.S. stablecoin issuer for institutions seeking compliant, programmable, digital dollars aligned with the highest regulatory standards set by the GENIUS Act. Issuing this stablecoin under the U.S.-compliant framework enables smoother integration with the U.S. financial system and provides institutions with more accessible, regulated pathways to hold USDtb. Article content 'The passage of the GENIUS Act provides the regulatory clarity that enables federally regulated institutions like Anchorage Digital Bank to fully participate in the stablecoin ecosystem. We're proud to support Ethena in bringing their product to the U.S.—helping deliver even greater transparency and confidence to their partners. As stablecoins become a foundational layer of modern finance, it's essential they're built on infrastructure that's secure, compliant, and built to last.' — Nathan McCauley, CEO and Co-Founder of Anchorage Digital 'While we've already seen strong demand for USDtb, we expect GENIUS compliance to empower our partners and holders to confidently and significantly expand its use across new products and platforms. By partnering with Anchorage Digital—the only federally regulated crypto bank in the United States—we reinforce the foundation needed to continue scaling the product without compromising on speed, flexibility, or trust.' — Guy Young, CEO of Ethena Labs Stablecoins are quickly becoming the lifeblood of the future of finance—both in America and globally—powering everything from real-time settlement and cross-border payments to next-generation fintech infrastructure and decentralized markets. By enabling safe, scalable, and regulated issuance, Anchorage Digital is helping ensure that this foundational layer of modern finance is built on trust, resilience, and U.S. leadership. Article content About Ethena Labs Article content Ethena Labs is the creator of USDe and USDtb and a contributor to the Ethena protocol. Ethena is the protocol behind USDe, the third-largest and fastest growing USD-denominated crypto asset in history with over $6 billion in TVL today across one of the largest sets of DeFi users, alongside integrations with some of the largest centralized exchanges and major DeFi applications. Ethena Labs is backed by Fidelity, Franklin Templeton, Dragonfly, Binance Labs, Bybit and OKX among others. Article content About Anchorage Digital Article content Anchorage Digital is a global crypto platform that enables institutions to participate in digital assets through trading, staking, custody, governance, settlement, stablecoin issuance, and the industry's leading security infrastructure. Home to Anchorage Digital Bank N.A., the only federally chartered crypto bank in the U.S., Anchorage Digital also serves institutions through Anchorage Digital Singapore, which is licensed by the Monetary Authority of Singapore; Anchorage Digital NY, which holds a BitLicense from the New York Department of Financial Services; and self-custody wallet Porto by Anchorage Digital. Recently, through the enactment of GENIUS, Anchorage Digital Bank became the only U.S., federally regulated and GENIUS-compliant stablecoin issuer bank. The company is funded by leading institutions including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with its Series D valuation over $3 billion. Founded in 2017 in San Francisco, California, Anchorage Digital has offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota. Learn more at on X @Anchorage, and on LinkedIn. Article content Article content Article content Article content Contacts Article content Anchorage Digital Article content press@ Article content Article content Article content
Hans India
3 hours ago
- Business
- Hans India
Trump Legalizes Crypto Investing – Why Capitalists Are Quietly Choosing BTC Miner's Cloud Mining with Up to 7% Daily Returns
July 18, 2025 – In a historic move, former U.S. President Donald Trump officially signed the GENIUS Act, America's first comprehensive crypto legislation, giving institutional investors—including $9 trillion in pension funds—the green light to legally invest in cryptocurrencies. As Wall Street gears up to enter the crypto market, smart capitalists are quietly moving into a hidden opportunity: BTC Miner cloud mining. While the public chases volatile Bitcoin and Ethereum prices, insiders are choosing a stable, high-return alternative: automated cloud mining. What Is BTC Miner? BTC Miner is a global cloud mining platform that lets anyone mine Bitcoin remotely—without owning expensive mining rigs or paying massive electricity bills. Investors simply select a hash-power contract, and BTC Miner handles everything through its AI-managed mining network powered by renewable energy. Daily returns up to 7% $500 free mining trial for new users No hardware, no maintenance, zero hassle Earnings paid daily in USD equivalents Funds safely stored in Tier-1 banks, insured by AIG BTC Miner transforms crypto mining into a simple, automated, and profitable process for everyone. Why Capitalists Are Secretly Joining BTC Miner Trump's new crypto law has opened the gates for institutional investors, but sophisticated players aren't relying solely on risky token investments. Instead, they're embracing BTC Miner cloud mining for one reason: stability. Predictable Daily Returns : Earn up to 7% daily, independent of market volatility. : Earn up to 7% daily, independent of market volatility. AI-Managed Efficiency : BTC Miner uses intelligent load balancing to maximize mining profitability. : BTC Miner uses intelligent load balancing to maximize mining profitability. ESG Compliance : Powered by green energy to meet institutional sustainability standards. : Powered by green energy to meet institutional sustainability standards. Top-Level Fund Security : Clients' funds are securely stored in Tier-1 banks, and their personal information is protected by SSL encryption. Every investment is protected by an AIG insurance policy, adding another layer of safety. : Clients' funds are securely stored in Tier-1 banks, and their personal information is protected by SSL encryption. Every investment is protected by an AIG insurance policy, adding another layer of safety. Fully Regulated & Transparent: BTC Miner operates licensed mining farms with strict asset protection. In short, BTC Miner delivers what institutional capital demands: stable, secure, and scalable profits in crypto. Investors Speak – Real BTC Miner User Feedback 'I'm earning daily profits without having to sell my Bitcoin.' — James K., Investor from Texas 'Started with the $500 trial and saw real profits within days. Zero risk, pure rewards.' — Anna S., User from Germany 'Instant withdrawals, stable payouts. BTC Miner is how I generate passive crypto income.' — Wei L., Business owner from Singapore BTC Miner is building a strong reputation worldwide as the go-to choice for safe, profitable crypto investing. How to Join BTC Miner and Start Earning Crypto Easily Sign up: Go to and create a free account. Claim $500 Free Trial: New users automatically receive $500 in mining credits. Choose a Mining Plan: Select short or long-term hash-power contracts. Sit Back and Earn: BTC Miner handles everything. Daily returns are automatic. Withdraw Anytime: Profits are paid daily and can be withdrawn instantly. Referral Program: Invite friends and earn 7% from their mining profits and 2% from indirect referrals. Build your own mining network and grow your passive income. The Smart Money Has Already Moved With Trump's crypto-friendly law in place and billions of institutional dollars entering the market, cloud mining is the next frontier. BTC Miner offers a secure, stable, and fully automated way to grow wealth without chasing volatile token prices. Stop trading. Start mining. Let BTC Miner work for you 24/7. 👉 Join now at claim your $500 free trial, and start earning up to 7% daily.
Newsweek
6 hours ago
- Politics
- Newsweek
Donald Trump's Approval Among Gen Z Hits Second Term Low
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Support for President Donald Trump among Generation Z voters has plunged to its lowest level since he returned to the White House, according to new polling. The latest CBS/YouGov survey, conducted between July 16-18 among 2,343 adults, found just 28 percent of voters aged 18 to 29 now approve of Trump's performance, while 72 percent disapprove—a net approval rating of -44, down from -20 in early June and -12 in late April. Morning Consult's latest poll, conducted between July 18-20 among 2,202 registered voters, also put Trump's approval rating among Gen Z at an all-time low, with 71 percent disapproving of his job performance, compared with just 24 percent who approve of it. That gives him a net approval rating of -47. President Donald Trump addresses the crowd as he prepares to sign the GENIUS Act, a bill that regulates stablecoins, a type of cryptocurrency, in the East Room of the White House, Friday, July 18, 2025,... President Donald Trump addresses the crowd as he prepares to sign the GENIUS Act, a bill that regulates stablecoins, a type of cryptocurrency, in the East Room of the White House, Friday, July 18, 2025, in Washington. More Alex Brandon/AP Why It Matters In the 2024 election, Trump made inroads with young voters, narrowing the Democrats' traditional lead among Gen Z—a group that has typically leaned left in recent cycles. According to AP VoteCast, voters ages 18 to 29 supported Kamala Harris over Trump by just 51 percent to 47 percent. By comparison, in 2020, Joe Biden carried the same age group by a much wider margin, winning 61 percent to Trump's 36 percent. Now, that shift appears to be reversing among a generation that had showed signs of warming to Trump's populist messaging. What To Know The CBS/YouGov data showed that the collapse in support for Trump among Gen Z voters has been both sharp and steady. By late February, it had slipped to 51 percent, with disapproval at 49 percent—a modest but narrowing lead. That equilibrium held through March. But April brought a dramatic downturn, with approval plunging to 43 percent by mid-month and 44 percent by April 25. Disapproval climbed in parallel, hitting 57 percent and 56 percent, respectively. By June 6, Trump's approval stood at just 40 percent, and by mid-July, support among Gen Z cratered at 28 percent—the lowest of his second term to date. Gen Z Turns on Trump Over Economy and Inflation The data also reveal an accelerating erosion of confidence in Trump's handling of core policy issues—especially among a generation hit hard by economic precarity and rising living costs. On the economy, Gen Z voters gave Trump a net rating of +4 in late February. That number fell to zero in March, -26 in early April and -42 by July 18. Discontent over inflation has grown even more severe. In February, Trump's net inflation approval rating was -10. By April, it had dropped to -38. As of July 18, it sits at -46, meaning fewer than one in four Gen Z voters likely approve of his handling of the issue. It comes as annual inflation rose 2.7 percent in June, up from 2.4 percent in May, according to the Consumer Price Index (CPI). The latest polling also sheds light on the growing breadth of disapproval among young voters. Nearly half (49 percent) of Gen Z respondents say Trump's policies are responsible for the current state of the economy, while just 14 percent blame Biden's policies. Sixty-two percent now believe the economy is getting worse, up from 48 percent in June. And more than half (58 percent) now say Trump's policies have made them personally worse off financially. When asked about specific economic concerns, 70 percent of Gen Z voters say Trump is not focusing enough on lowering the cost of goods and services. Seventy-two percent say he is focusing too much on tariffs, which many blame for rising prices. Food costs continue to be a major source of frustration, with 68 percent saying grocery prices are still rising under Trump's second term. Immigration Crackdown Backfires Among Young Voters Trump's immigration crackdown has also lost favor. After briefly climbing into positive territory in March (+2), Trump's immigration approval fell to -16 in April, -12 in June, and -40 in the most recent survey. Throughout his second term, Trump has aggressively expanded immigration enforcement—launching mass deportation operations, increasing raids in sanctuary cities and reviving thousands of old deportation cases. Unlawful crossings at the southern border hit a historic low last month, and Trump has secured billions in additional funding for border security and expanded enforcement operations. His administration has also dramatically scaled up detention capacity, allocating $45 billion to expand ICE facilities and construct large-scale temporary camps, including a facility in Florida nicknamed "Alligator Alcatraz." But while Trump has continued to push the hardline immigration agenda that helped him win support in 2024, new polls indicate that backing for those policies is fading across other demographic groups. Gallup polling this month shows that 30 percent of Americans now say immigration levels should be reduced, down from 55 percent in 2024. Support for maintaining or increasing immigration has risen across the board, including among Republicans. More broadly, the number of Americans who view immigration as a "good thing" has reached an all-time high of 79 percent, the same poll shows, reversing a steady decline during Joe Biden's presidency and surpassing sentiment levels from Trump's first term. But among Gen Z, the backlash extends beyond economic and immigration policy. According to the YouGov/CBS polling, 71 percent of Gen Z voters disapprove of Trump's signature legislative package, the "Big Beautiful Bill Act," which critics say prioritizes tax cuts for the wealthy while slashing safety-net programs. And in one of the sharpest rebukes yet, 84 percent disapprove of the Trump administration's handling of the Jeffrey Epstein files—the highest disapproval on that issue among any age group.
Forbes
7 hours ago
- Business
- Forbes
Crypto Tax Implications After The GENIUS Act
Despite new crypto legislation, the IRS still treats digital assets as property, leaving key tax rules unchanged for traders and investors. Crypto Tax Implications After the GENIUS Act The crypto regulatory landscape is evolving rapidly, but one thing remains unchanged: the IRS still treats cryptocurrencies as "intangible property" for tax purposes. Despite major legislative developments like the July 2025 GENIUS Act and the House-passed CLARITY Bill (pending in the Senate), tax treatment has not shifted. Property, Not Securities or Commodities The IRS's classification—originally laid out in Notice 2014-21—means crypto is taxed under capital gains rules for property, not as securities (which trigger wash sale rules) or commodities (which may qualify for favorable Section 1256 treatment). For a digital asset to be taxed as a security, it generally must resemble traditional equities, such as stock or bonds. Most crypto tokens do not meet that test. Bitcoin futures, however, are an exception. Traded on regulated futures exchanges like the CME, they qualify as Section 1256 contracts with a 60/40 capital gains split and mark-to-market (MTM) at year-end. But spot crypto holdings and most tokenized assets remain property. GENIUS Act: Compliance Without Tax Impact The GENIUS Act introduces robust reserve, audit, and disclosure requirements for U.S. stablecoin issuers, including 1:1 asset backing and monthly financial attestations. However, it does not reclassify stablecoins for tax purposes. CLARITY Bill: Regulatory Structure, Not Tax Change The CLARITY Bill provides a framework for determining whether a digital asset is a security or a commodity, largely based on decentralization. The SEC and CFTC share oversight under the proposal. But this classification does not override the IRS's existing stance—digital assets remain property unless tax law changes. Why It Matters Bottom Line Until Congress amends the tax code or the IRS updates its guidance, digital assets are taxed as property. That's good news for traders looking to harvest losses—but it also means they miss out on some of the favorable treatments available to securities or commodities traders. Disclaimer: This article is for informational purposes only and does not constitute tax advice. Please consult a qualified tax professional for guidance. For a more in-depth analysis, see a longer-form version of this blog post on Robert A. Green, CPA is CEO of GreenTraderTax and a contributor to Forbes on trader and crypto tax issues.
