Trump Action Archive

Supporting reports

• Became Law: GENIUS Act — The GENIUS Act was enacted as Public Law 119-27 on July 18, 2025. The bill became law through the standard legislative process, reflecting congressional action on the measure. The specific policy provisions and democratic effects depend on the act's substantive content, which the source record does not detail.
• Trump signs GENIUS Act regulating cryptocurrency — On July 18, 2025, Trump signed the GENIUS Act, the first major piece of legislation to regulate the cryptocurrency industry. The law, largely written by crypto lobbyists, sets standards for stablecoins—cryptocurrency tokens pegged to government currency values. While bitcoin is not a stablecoin, stablecoins facilitate many crypto transactions. By legitimizing stablecoins, the GENIUS Act sets the stage for wider adoption of crypto overall, including bitcoin. Trump also holds a large financial interest in World Liberty Financial, which recently launched its own stablecoin called USD1.
• White House issues fact sheet on GENIUS Act signing — The White House issued a fact sheet on July 18, 2025, announcing that President Trump signed the GENIUS Act into law. The fact sheet states the act establishes federal regulation of stablecoins, requiring 100% reserve backing with U.S. dollars or short-term Treasuries, monthly public disclosures, strict marketing rules, and compliance with anti-money laundering and sanctions enforcement. The document claims the act protects consumers, strengthens the U.S. dollar's reserve currency status, and positions the United States as a leader in digital assets.

Supporting reports

• Trump Organization announces Trump Tower Belgrade deal with Affinity Partners on Serbian military site — The Trump Organization announced a deal with Affinity Partners to build Trump Tower Belgrade on a former military site owned by the Serbian government. Affinity Partners is a private equity firm launched in 2021 by Trump's son-in-law Jared Kushner and funded by $2 billion from the Saudi government's Public Investment Fund and other foreign governments. The deal involves the Trump Organization licensing its brand to develop property on Serbian government-owned land.
• Trump Organization announces Trump Tower Bucharest deal with Romanian developer SDC Imobiliare — The Trump Organization announced a partnership with SDC Imobiliare, a Romanian luxury real estate developer, to build Trump Tower Bucharest in Romania's capital. The arrangement involves SDC Imobiliare paying licensing fees to the Trump Organization for use of the Trump brand. The project requires permits from Romanian government officials, creating potential leverage for Romania—which is seeking restoration of its Visa Waiver Program status revoked by the Trump administration in May and wants the U.S. to maintain military presence at Mihail Kogălniceanu Air Base. SDC Imobiliare's co-owner is under investigation in a corruption case involving a politician sentenced to eight years for bribery and money laundering.
• Trump Organization announces two new real estate projects in Saudi Arabia with Dar Global — The Trump Organization announced a partnership with luxury developer Dar Global to build two new real estate projects in Saudi Arabia. This follows the company's removal of restrictions on foreign deals in its January 2025 ethics statement, which previously prohibited new foreign deals during Trump's presidency. The Saudi projects are part of the Trump Organization's expanded global real estate portfolio announced during Trump's second term.

Supporting reports

• Trump administration proposes alternative Medicare rule for skin substitutes more favorable to industry than Biden rule — On July 14, 2025, the Trump administration announced a new proposed Medicare rule for skin substitute products that would cap payments at $806 per square inch. While lower than current charges by Extremity Care and Legacy, the new rule would not restrict coverage to scientifically proven products, unlike the Biden rule. The proposal would allow doctors to continue receiving reimbursement for products from Extremity Care and Legacy. Both the Biden and Trump rules are now delayed until January 2026.
• Trump administration proposes new Medicare skin substitute payment cap — On July 14, 2025, the Trump administration announced a proposed Medicare rule capping payments for skin substitutes at $806 per square inch. While lower than current charges by Extremity Care and competitors, the proposal does not restrict coverage to scientifically proven products and remains significantly higher than proven alternatives (e.g., $75–$195 per square inch). The skin substitute industry, represented by the Medicare Access to Skin Substitutes Coalition (MASS Coalition), opposes the cap and proposes an alternative of up to $6,277.41 per square inch plus additional payments for "innovative" products.