President Trump, who is rapidly expanding his fortunate by investing in crypto, has now signed the first major piece of crypto legislation into law.

President Trump held a signing ceremony at the White House on Friday after Congress passed the GENIUS Act, a landmark federal law that will regulate cryptocurrency. Specifically, the GENIUS Act will set government guidelines for the cryptocurrency known as stablecoin.

On Tuesday, a dozen conservatives sank a procedural vote to advance three crypto bills, including the GENIUS Act, which would establish a regulatory framework for the $250 billion market for stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar.

The House of Representatives voted to regulate digital currencies and protect their owners on Thursday during what many lawmakers called "crypto week."

Paolo Ardoino, Tether's chief, said his firm will come to the U.S., is chasing high-level auditing and will adjust reserves, but Jeremy Allaire said Circle is already compliant.

Here are some of the latest stories Wall Street is watching on Friday, July 18. Federal Reserve Chair Jerome Powell is defending the Fed’s $2.5 billion headquarters renovation amid criticism from the White House.

The House of Representatives passed the GENIUS Act, making it the first major piece of federal legislation to regulate stablecoins.

The Trump administration is actively exploring a de minimis tax exemption for Bitcoin transactions to eliminate barriers to everyday Bitcoin and crypto use,