International News 22 July 2025
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Trump Signs GENIUS Act, Marking Historic Boost for Stablecoins and U.S. Crypto Dominance
In a landmark move for the crypto industry, former President Donald Trump signed the GENIUS Act into law on July 18, creating a regulatory framework for stablecoins—digital assets pegged to the U.S. dollar. Passed by a bipartisan majority in Congress, the legislation is seen as a breakthrough moment, aiming to legitimize the crypto sector and expand the role of digital dollars in everyday transactions. The law requires stablecoins to be backed by highly liquid assets like cash or short-term Treasuries and mandates monthly reserve disclosures, aiming to boost trust among users, retailers, and financial institutions. Trump described the bill as “good for the dollar and good for the country,” emphasizing its potential to strengthen the dollar’s status as the world’s reserve currency. Industry leaders praised the legislation, which follows years of lobbying and over $245 million in crypto-related political donations, much of which supported Trump’s 2024 campaign. Analysts estimate the stablecoin market could grow from its current $260 billion to $2 trillion by 2028 under the new law. However, critics argue the bill lacks key safeguards, including restrictions on Big Tech issuers and stronger anti-money laundering protections. Transparency International warned the U.S. risks becoming a financial haven for criminals and hostile regimes. Meanwhile, U.S. banks and crypto firms like Circle and Ripple are exploring expansion, banking licenses, and increased use of Treasuries—potentially driving new demand for short-term government debt.
Trump’s Foreign Aid Cuts Leave Global Water Projects Abandoned
The Trump administration’s sweeping cuts to U.S. foreign aid have left at least 21 water and sanitation infrastructure projects unfinished across 16 countries, putting millions at risk. According to a Reuters investigation, hundreds of millions of dollars in aid were halted since January, forcing workers to abandon key initiatives. In Mali, water towers meant for schools and clinics were left incomplete. Over 100 clean water systems in Nepal were stalled, leaving vital materials unused. Lebanon saw a solar-powered water project collapse, resulting in job losses and deteriorated services, while half-built irrigation channels in Kenya now threaten devastating floods for local farmers. The dismantling of USAID’s operations has disrupted critical humanitarian aid globally. Analysts warn the cuts could contribute to up to 14 million deaths by 2030, citing data from The Lancet. Although some funding—such as $6 billion for a desalination plant in Jordan—has been restored due to diplomatic pressure, many projects in countries like Ethiopia, Tanzania, and the DRC remain frozen. Despite bipartisan support for U.S. water initiatives in the past, the Trump administration defends the cuts, claiming funds should serve domestic needs. Critics argue the U.S. has long improved global lives through access to clean water, sanitation, and education, with long-term benefits for stability and public health.