Trump Signs Stablecoin Bill as Crypto Adoption and Regulatory Developments Advance

US President Donald Trump signed the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act into law on Friday, marking one of the administration's first significant legislative actions on cryptocurrency and blockchain. The signing ceremony was attended by several cryptocurrency industry leaders and senior Republican officials, including Vice President JD Vance and House Speaker Mike Johnson. Executives from major crypto firms such as Kraken, Gemini, Coinbase, Circle, Tether, and Robinhood were present.

The GENIUS Act's passage comes amid reports that President Trump is considering an executive order to allow American 401(k) retirement plans to invest in alternative assets, including cryptocurrencies. According to the Financial Times, the order would direct regulators to explore pathways for retirement funds to access digital assets and other alternatives.

A recent survey by Bitget Wallet indicates that cryptocurrency payments are becoming more common for everyday purchases and high-value transactions. Gen Z users lead in daily crypto spending, particularly in gaming and travel, while Gen X dominates higher-value transactions such as real estate.

In market developments, Bitcoin ended the week at $118,281, Ether at $3,553, and XRP at $3.43, with the total crypto market capitalization reaching $3.85 trillion, according to CoinMarketCap. Notably, Stellar’s XLM is showing bullish technical patterns, with analysts suggesting a potential 35% rally if resistance levels are surpassed.

Elsewhere, a Satoshi-era Bitcoin holder transferred over 80,000 BTC, valued at $9.6 billion, to Galaxy Digital over four days, with some funds also moving to exchanges Binance and Bybit. In regulatory news, the International Monetary Fund reported that El Salvador has not purchased additional Bitcoin since signing a loan agreement in December 2024, and is working to reduce fiscal risks associated with its Bitcoin holdings.

Legal challenges continue for Strategy (formerly MicroStrategy), as multiple lawsuits allege the company understated the risks and volatility of its Bitcoin investment strategy. Meanwhile, a former UK National Crime Agency officer was sentenced to five and a half years in prison for stealing 50 Bitcoin during a Silk Road 2.0 investigation.