U.S. President Donald Trump on Friday signed a law to create a regulatory regime for U.S.-dollar-pegged cryptocurrencies known as stablecoins, a milestone that could pave the way for the digital assets to become an everyday way to make payments and move money.

Poised to enact its first major legislation regulating cryptocurrency, the United States is pushing digital money into the mainstream.

"The Genius Act will go down in history as a law that served as a foundational step in mainstreaming of crypto as an asset class," said Chris Perkins, president, CoinFund.