US President Donald Trump has thrown his weight behind the Senate’s stablecoin invoice, calling it “pure GENIUS” and urging the Home to go it “lightning quick.”
In response to his Fact Social submit, the Senate “simply handed an unimaginable Invoice” that may make the US “the UNDISPUTED Chief in Digital Belongings.” He left no room for tweaks or delays, insisting on “NO DELAYS, NO ADD ONS.”
Trump Urges Fast Approval
Primarily based on stories, Trump needs a “clear” model of the Guiding and Establishing Nationwide Innovation for US Stablecoins (GENIUS) Act to sail by the Home.
He warned members like Congressman French Hill towards altering the Senate textual content or folding it into a bigger crypto bundle. The Senate authorized the invoice sooner or later earlier than his submit, setting a transparent deadline: get it to my desk “ASAP.”
Home Faces Vital Selection
Representatives are weighing two paths. They’ll approve the Senate invoice as is or merge it with a broader set of crypto guidelines. French Hill and different Home Republicans backed an analogous measure in April, however this model has key variations on reserve necessities and registration steps.
Some fear {that a} standalone vote may undercut efforts to handle token securities, DeFi and change oversight abruptly.
Senate Seeks Early Win
Senator Invoice Hagerty, the invoice’s sponsor, instructed reporters he hopes to ship the GENIUS Act to Trump earlier than July 4th. He warned that if the Home provides “market construction” language, all the bundle would want to return for extra Senate evaluation.
Months of robust talks within the higher chamber narrowly secured sufficient GOP assist—and a few Democratic votes—to go the laws below the 60‑vote threshold.
Picture: MudrexCompetitors With Different Jurisdictions
In response to business consultants, clear US guidelines may assist stablecoin issuers like Circle and Paxos keep away from a patchwork of state licenses. The EU, Singapore and Hong Kong are already drafting their very own frameworks. With out swift motion, these corporations could relocate abroad, taking banking ties and expertise with them.
Primarily based on stories from crypto teams, lobbyists have ramped up requires federal readability. Some warn that piecemeal payments may go away gaps in reserve audits or shopper protections. Others argue a slender stablecoin legislation is best than none—and will pave the best way for broader reforms later this 12 months.
Featured picture from Unsplash, chart from TradingView
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