Trump: Cryptocurrencies have risen more than any stock and will go further

U.S. President Donald Trump stated that cryptocurrencies have risen more than any stock during his term since last January.

Trump added during the press conference to announce the GENIUS Stablecoin Regulatory Act that cryptocurrencies will go further under his administration, stating: "Cryptocurrencies will really succeed."

He explained that legislation to structure the cryptocurrency market will lead to the industry's growth beyond what people ever thought.

President Trump signed the GENIUS Stablecoin Act, which regulates the operation of stablecoins, after it was passed by the U.S. House of Representatives with a majority of 215 votes to 211 votes, which will create a regulatory framework for stablecoins.

The GENIUS Act sets initial protective barriers and consumer protection for stablecoins, which are a type of cryptocurrency linked to a stable asset like the U.S. dollar to reduce price volatility, with the aim of enhancing consumer confidence in the rapidly growing cryptocurrency sector.

Source: Trump's press conference