Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

What's going on, guys? It is Monday, July 21st, and today we are talking all about what is actually

in the Genius Act. Before we get into that, however, if you are enjoying The Breakdown,

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breakdown pod. All right, friends, well, President Trump has officially signed the Genius Act into law,

making stable coins formally regulated in the United States. In a Friday ceremony, Trump officially

endorsed the first significant crypto legislation to be passed by Congress. He said,

this afternoon we take a giant step to cement American dominance of global financing the first significant crypto legislation to be passed by Congress. He said,

This afternoon, we take a giant step to cement American dominance of global finance and crypto technology as we signed the landmark Genius Act into law. They've come a long way since the

Biden administration when they had no idea what you were all talking about and half of you

were under arrest for no reason. Crypto executives aligned the Oval Office for the occasion.

Both Palo Arduino of Tether and Jeremy Aller of Circle were in the room, along with numerous

others. While walking to the White House, Nathan McCauley of Anchorage Digital posted, honored to be

in Washington today. Genius is the first major digital asset legislation to clear Congress after

years of public and private effort led to this bipartisan

milestone, taking a moment to appreciate what it took to get here and excited for what is coming

next. Chainlink CEO, Sergey Nazaroff, meanwhile, is ready for what comes next, writing,

The Genius Act is a huge step forward for stable coins, forming the basis of on-chain payments

for retail users in both highly developed and emerging markets.

...