Physna CEO and cryptocurrency expert Paul Powers told Newsmax Tuesday that the new GENIUS Act will help remove some of the risk in the minds of many new crypto investors.
Powers told "National Report" that the new legislation "de-risks the idea of using crypto. There's the benefit of the lower cost, the faster transaction time, the decentralized nature of crypto."
He said such legislation will only serve to create more interest and more investments going into crypto. "What we're going to start seeing for both everyday Americans and the economy in general is more integration of cryptocurrency into everyday life and also into new technology and new products," said Powers.
President Donald Trump signed the GENIUS Act into law on Friday. It was considered a huge win for supporters of cryptocurrencies who have lobbied for a government-managed set of regulations to add not just controls but legitimacy to the markets. The act won widespread support in the House with most Republicans and about half the Democrat representatives supporting the legislation. It had earlier been approved by a two-thirds majority in the Senate.
Treasury Secretary Scott Bessent posted about Trump signing the bill and predicted that it would "pave the way for the U.S. to lead the global digital currency revolution."
Powers agreed, saying, "So this is a watershed moment. By regulating crypto for the first time, President Trump hasn't just passed legislation on it, he's also legitimized crypto."
Powers added that that means more people investing and more "tech companies and fintech companies" investing in cryptocurrencies.
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Jim Mishler ✉
Jim Mishler, a seasoned reporter, anchor and news director, has decades of experience covering crime, politics and environmental issues.
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