The total market value of crypto assets surged past the $4 trillion mark for the first time ever on the back of landmark legislation to regulate the industry – marking a milestone that reflects its shift from a nascent asset class to a central part of the global investment landscape.
The surge came as President Trump on Friday signed into law the GENIUS Act, the first-ever federal law to regulate stablecoins — a form of cryptocurrency pegged to a real-world asset.
The law — passed after a bruising battle in Congress — introduces federal or state oversight of stablecoins tied to the US dollar in a move that helps legitimize a market that has been left largely unregulated.
President Trump holds up the GENIUS Act after signing the bill on Friday. AP
Citigroup analysts have estimated that the stablecoin market could grow to $3.7 trillion by 2030.
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