Trump signed the 'GENIUS' bill regulating dollar-backed stablecoins

"I signed a bill called 'GENIUS'. I named it after myself. I didn't want to use my name, so I just called it the 'GENIUS' bill," the US president said.

The bill is aimed at regulating dollar-backed stablecoins.

Stablecoins are cryptocurrency tokens whose value is pegged to an asset (such as the dollar, euro, or gold). The most popular one is Tether (USDT).