Trump's first anniversary of the signing of the Stable Currency Act, and regulations are still in place

The United States Stability Currency Innovation Act (Genius Act), signed by President Trump, entered into force one year ago, marking the first time that the United States has established a federal regulatory framework for the Stable Currency. Despite the fact that the Act has been in force for one year, the regulatory bodies are still working on specific rules to guide the operation and governance of stable issuers. Cripto Council for Innovation, Ji Hun Kim, Chief Executive Officer, described the adoption of the bill as "a milestone moment" and indicated that the stabilization currency was moving rapidly towards mainstreaming. Regulators have introduced draft rules on stable currency governance and regulation and require issuers to perform customer identification similar to that of traditional financial companies。