The cryptocurrency industry is experiencing significant growth and regulatory advancements, largely influenced by the U.S. government's pro-crypto stance under President Donald Trump's administration. On July 18, 2025, President Trump signed the GENIUS Act into law, marking a pivotal moment for the U.S. crypto sector. This bipartisan legislation establishes consumer protections and regulatory frameworks for stablecoins—digital currencies pegged to stable assets like the U.S. dollar to minimize volatility. During a White House ceremony attended by crypto executives and GOP lawmakers, Trump praised the industry's resilience and emphasized his administration's commitment to making the U.S. the global leader in cryptocurrency.
The GENIUS Act prohibits members of Congress and their families from profiting from stablecoins, though this restriction does not apply to the president—a notable exemption as Trump and his family hold stakes in crypto company World Liberty Financial. This legislation is part of broader efforts by the Trump administration to support the industry, including halting several SEC enforcement actions. Two additional crypto-focused bills enhancing market structure and preventing the Federal Reserve from creating a digital currency have passed the House and await Senate approval. Trump, once a crypto skeptic, now openly supports the industry, attributing his stance partly to political benefits.
In tandem with legislative progress, traditional financial institutions are increasingly integrating cryptocurrencies into their services. Standard Chartered has become the first major global bank to offer direct spot cryptocurrency trading services, beginning with Bitcoin and Ethereum paired against the U.S. dollar. Launched on July 15, 2025, this service is targeted at institutional clients such as corporates, asset managers, and investors. The initiative reflects the growing integration of cryptocurrencies into mainstream finance and the increasing demand among traditional financial institutions for crypto-related services.
Market performance also underscores the sector's vitality. XRP, for instance, has recently climbed more than 10% over the past 24 hours and 34% over the past seven days, nearing a record high of $3.40. This surge is accompanied by a significant increase in futures open interest, reaching $10 billion. Such developments indicate robust investor confidence and the growing mainstream acceptance of cryptocurrencies.
The U.S. government's supportive approach, coupled with proactive legislative measures and the active participation of traditional financial institutions, is fostering a conducive environment for the cryptocurrency industry's growth. As the sector continues to evolve, these developments are likely to have a lasting impact on the global financial landscape.
