Trump to Sign GENIUS Act Establishing Stablecoin Regulations

Several prominent figures in the crypto and blockchain industry have announced their plans to attend the signing ceremony of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act by US President Donald Trump on Friday. The bill, which aims to establish a regulatory framework for stablecoins, was passed by the US House of Representatives on Thursday, along with two other pieces of crypto legislation: the Digital Asset Market Clarity (CLARITY) Act and the Anti-CBDC Surveillance State Act.

The GENIUS Act is scheduled to be signed into law at 6:30 pm UTC in a ceremony that is expected to include Trump’s crypto supporters. Among those who have confirmed their attendance are Ripple chief legal officer Stu Alderoty, Circle CEO Jeremy Allaire, Chainlink Labs co-founder Sergey Nazarov, Anchorage Digital CEO Nathan McCauley, and Multicoin Capital managing partner Kyle Samani. The event may also include other crypto executives who are friendly with the administration, possibly those associated with World Liberty Financial, a business backed by the Trump family that issued its own stablecoin.

The stablecoin bill is expected to go into effect in 18 months or 120 days after the US Treasury and Federal Reserve finalize regulations. This timing suggests that any effects from the bill, whether positive or negative, would be less likely to be used as a campaign issue for 2026 candidates. The GENIUS Act is heading to Trump’s desk because it was passed in June by the US Senate before Thursday’s House vote, giving both chambers of Congress time to consider amendments before voting on the bill.

However, the CLARITY Act and Anti-CBDC Surveillance State Act were introduced in the House, meaning that both bills have to go through the Senate before being signed into law. Several House Democrats raised objections during the debate over the three bills on Thursday, including claims that Trump would personally benefit from their passage due to his investments in World Liberty Financial and his own memecoin. Some cryptocurrency executives who supported Trump’s 2024 presidential campaign, such as Gemini co-founder Tyler Winklevoss, lauded the passage of the GENIUS Act on social media.

Votes on the CLARITY and CBDC bills in the House suggested that the Republican-led bills could face similar challenges from Senate Democrats. More than 70 Democrats sided with Republicans to pass the CLARITY Act, but only two voted in favor of the anti-CBDC bill, which largely passed along party lines. The passage of the GENIUS Act has been met with enthusiasm by industry executives, who see it as a significant step forward in the regulation of digital assets. Coinbase and Circle, two prominent companies in the cryptocurrency space, are co-hosting a celebration to mark the legislative victory. The administration has extended invitations to several industry leaders to attend the bill signing at the White House on Friday, underscoring the importance of this development for the digital asset industry.

The GENIUS Act's journey through Congress has not been without challenges. Earlier in the week, a dozen conservatives attempted to block the bill's progress by sinking a procedural vote. However, the legislation ultimately secured the necessary support and was approved by the House on Thursday. This bipartisan vote reflects a growing consensus among lawmakers on the need for clear and effective regulation of stablecoins. The signing of the GENIUS Act into law is expected to have far-reaching implications for the digital asset industry. By providing a regulatory framework for stablecoins, the bill aims to foster innovation while protecting consumers and maintaining financial stability. Industry experts anticipate that the legislation will pave the way for further developments in the cryptocurrency space, as companies and investors gain greater clarity on the regulatory landscape.

The passage of the GENIUS Act also highlights the administration's commitment to promoting technological innovation and ensuring that the U.S. remains at the forefront of digital asset development. The bill's signing is a testament to the collaborative efforts of lawmakers, industry stakeholders, and regulators in creating a robust and forward-thinking regulatory environment for stablecoins. As the digital asset industry continues to evolve, the GENIUS Act is poised to play a crucial role in shaping its future trajectory.