Mr. Trump is poised for his first major legislative victory on cryptocurrency policy next week as House Republicans prepare to pass a bill previously introduced in the Senate establishing new regulations for stablecoins.
The House of Representatives is expected to vote early next week on the Senate-introduced GENIUS bill, which aims to establish the first US regulatory framework for so-called stablecoins pegged to the US dollar. The bill, which passed the Senate last month with bipartisan support, is expected to be the first major cryptocurrency regulatory measure adopted by the US Congress.
Mr. Trump's signing of the stablecoin bill could provide a significant boost to the crypto industry, which has long struggled to enter the mainstream. Cryptocurrency proponents hope that the endorsement by the US government, and the customised regulatory framework they have lobbied Congress for years, will boost the legitimacy and popularity of cryptocurrencies, while opening the door for traditional Financial Institution Groups to move further into digital assets.
The legislation could also be a boon for the Trump family itself: his sons founded a company that issued a stablecoin last year.
Trump is expected to achieve his first major legislative victory on cryptocurrency policy next week
2025-07-11 02:31:17
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