The US cryptocurrency market has seen a significant surge in value, reaching an unprecedented $4 trillion for the first time. This milestone comes on the heels of President Trump’s support for the industry, including his expected signing of legislation to create new rules for stablecoins.
Stablecoins, digital tokens tied to the value of the US dollar, have been instrumental in this growth. The approval of these regulations by Congress would allow companies like Amazon and Walmart to issue their own stablecoins, potentially bypassing traditional payment networks.
In addition to stablecoin regulation, a new executive order from Trump aims to permit 401(k) plans to invest in cryptocurrencies. This move could open up a multitrillion-dollar market for digital currencies, increasing the wealth of cryptocurrency companies.
While there are concerns about potential regulatory delays and opposition from Democrats, many believe that the industry’s growing influence in Washington will continue to propel its growth. With the market capitalization of Bitcoin down only slightly, investors remain optimistic about the future of cryptocurrency.
Source: https://www.nytimes.com/2025/07/18/business/dealbook/crypto-genius-act-congress.html