Trump Pushes GENIUS Act Through House for Stablecoin Regulation

President Donald Trump has reignited hopes for sweeping digital asset regulation with a last-minute comeback deal for the GENIUS Act. In a post on Truth Social, Trump announced that lawmakers have agreed to vote in favor of the Rule tomorrow morning, following a short discussion. This development comes after a period of uncertainty and revolt on the House floor, with Trump's intervention seemingly resolving the dispute.

The GENIUS Act, a U.S. legislation regulating stablecoins, is now poised to pass through the House. Trump's push for its enactment has been instrumental in garnering the necessary support from Congress members. The bill is part of a broader effort by Republican lawmakers and the President to support the cryptocurrency industry and ease regulations around it.

The passage of the GENIUS Act is expected to have significant implications for the digital asset landscape. It signals a potential shift in crypto legislation, likely influencing future policies. The bill's enactment could provide much-needed clarity and stability for the cryptocurrency market, potentially boosting its growth and adoption.

However, the path to passage is not without challenges. Democrats have expressed concerns about Trump's growing crypto empire, which could potentially hold up the market structure package called the CLARITY Act. Despite these hurdles, Trump and Republican leaders have called on the House to pass the bills individually, ensuring that the stablecoin legislation can reach the President's desk for his signature.