The cryptocurrency industry is experiencing significant growth and regulatory advancements, largely influenced by recent actions from the U.S. government. On July 18, 2025, President Donald Trump signed the GENIUS Act into law, marking a pivotal moment for the sector. This legislation introduces comprehensive regulations and consumer protections for stablecoins—cryptocurrencies pegged to traditional assets like the U.S. dollar—aiming to reduce volatility and enhance credibility. The bipartisan support for the GENIUS Act underscores the growing influence of the crypto industry in Washington, bolstered by substantial lobbying efforts and campaign contributions.
During the signing ceremony, attended by crypto executives and GOP lawmakers, President Trump praised the industry's rapid rise and acknowledged its role in his political success. He noted that supporting the cryptocurrency sector was beneficial for both the dollar and the country. This shift in the administration's stance reflects a broader trend of embracing digital assets, with the government taking steps favorable to the crypto industry, including halting certain SEC enforcement actions.
In addition to the GENIUS Act, Congress is considering further legislation to integrate cryptocurrencies into traditional financial systems. On July 17, 2025, the House of Representatives voted on three major pieces of crypto legislation: the GENIUS Act, the CLARITY Act , and a measure addressing Central Bank Digital Currencies . The GENIUS Act, already passed by the Senate, is expected to be signed into law soon. The CLARITY Act may face resistance in the Senate, where a separate draft is still in progress. Market response has been optimistic, with crypto tokens, particularly Ethereum, rising in anticipation of stablecoin integration.
The government's pro-crypto stance is also evident in its support for integrating digital assets into retirement savings. President Trump is preparing to sign an executive order that would allow 401 retirement plans to include alternative investments such as cryptocurrencies, gold, and private equity. This move follows congressional approval of the GENIUS Act to regulate stablecoins and the Clarity Act to determine asset classifications, marking a significant shift in the $9 trillion U.S. retirement market.
Traditional financial institutions are also embracing cryptocurrencies. Standard Chartered has become the first major global bank to offer direct spot cryptocurrency trading services, beginning with Bitcoin and Ether paired against the U.S. dollar. Launched on July 15, 2025, the service is targeted at institutional clients such as corporates, asset managers, and investors. This initiative reflects the growing integration of cryptocurrencies into mainstream finance and the increasing demand among traditional financial institutions for crypto-related services.
These developments indicate a significant shift in the U.S. government's approach to cryptocurrencies, moving from skepticism to active support and regulation. The combination of favorable legislation, integration into traditional financial systems, and institutional adoption is poised to drive further growth and innovation in the crypto industry.
