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Trump signs 1st major crypto bill GENIUS Act into law
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After nearly 11 years behind bars, Shon Hopwood became a lawyer and joined the Georgetown University faculty. Now, convicted again, he faces a return to prison.
President Donald Trump appeared to direct the attention toward him before signing a landmark bill into law on Friday. The legislation, named the GENIUS Act, is the first of its kind to govern a form of cryptocurrency. The law sets guardrails and consumer protection standards for stablecoins, which are tied to assets including the U.S. dollar.
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Legislation authored by Ohio Rep. Bob Latta and signed into law by President Donald Trump seeks to crack down on drug traffickers. Over the last five years, the deaths of more than 324,000 people have been linked to fentanyl.
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A Minnesota mom who testified for tougher fentanyl penalties was invited to the White House to see the bill become law. Bridgette Norring was in the room when President Trump signed the HALT Fentanyl Act on Wednesday. She told WCCO that losing her son to fentanyl poisoning drives her to try to save lives.
A Georgetown University law professor who spent more than a decade in prison for bank robbery before becoming a lawyer was convicted on Friday of multiple criminal charges stemming from a September 2023 domestic violence incident.
Most entities now considering tapping into stablecoins amid the GENIUS Act’s passage say they would first use them for largely “back-end” purposes, like reducing fees paid by merchants to credit card companies or more easily converting currencies from cross-border payments.