As Trump prepares to sign the law, Consumer Reports' senior director monitoring digital marketplaces, Delicia Hand, told Ars that the group plans to work with other consumer advocates and the implementing regulator to try to close any gaps in the stablecoin legislation that would leave Americans vulnerable.

President Trump is signing the country's first major legislation aimed at regulating cryptocurrency on Friday.

Crypto assets rose in premarket trading as a result. Trading platforms Coinbase Global and Robinhood rose 2.2%, to $419.95, and 3.4%, to $108.97, respectively. Shares of Block, which earlier this year said it will launch bitcoin payments on Square, rose 1.5% to $71.81.

On Monday, Greene joined the MAGA blowback over how the Trump administration has handled the Jeffrey Epstein files, telling CNN’s Manu Raju that the FBI and DOJ’s flip-flops on the late child sex offender’s alleged “client list” were crossing a “red line.”

Democrats have also raised concerns that the legislation opens the door for major corporations to issue their own private cryptocurrencies.

Unlike more volatile cryptocurrencies, stablecoins are designed to hold their value and settle payments instantly, around the clock.

Bank of America CEO Brian Moynihan said the bank is exploring stablecoin initiatives, as Congress considers a bill that would allow private companies to issue their own.

President Donald Trump said Tuesday, July 15, he has secured the commitment of House Republicans to vote in favor of the GENIUS Act after procedural failures halted its progress earlier in the day.