- The GENIUS Act passed the Senate with strong bipartisan support, securing a 68-30 majority vote.
- House Republicans, led by Tom Emmer, want to merge GENIUS with CLARITY, risking major delays.
- Trump demands immediate, unchanged passage of the GENIUS Act to fast-track stablecoin oversight.
After the United States Senate voted to pass the GENIUS Act by a commanding 68-30 bipartisan margin, the legislation now advances to the House of Representatives. The bill, designed to regulate stablecoins, passed with broad support and now awaits further deliberation and a crucial vote to advance to the president’s desk.
Eleanor Terrett shared on X that the GENIUS Act has now officially reached the House. As per standard legislative procedure, the House will deliberate and vote on the Senate-approved version. If passed without amendments, the bill will advance directly to the president’s desk, potentially accelerating regulatory clarity for stablecoin issuers.
Also Read: Senate Pushes GENIUS ACT Vote Despite Warren’s Crypto Concerns
House Members Seek to Merge GENIUS and CLARITY Acts
While the Senate passed the bill cleanly, the House faces growing pressure from several members to link the GENIUS Act with the CLARITY Act, a separate crypto market structure bill. This push, led by GOP Majority Whip Tom Emmer, threatens to delay the GENIUS Act’s smooth progression.
The CLARITY Act provides a comprehensive framework for the broader crypto sector, beyond stablecoins. Though it has cleared the markup phase in the House, any merger with the GENIUS Act would require a return to the Senate for approval, potentially stalling the bill’s finalization.
Emmer emphasized the importance of a combined regulatory approach, saying, “Market structure is essential to any Congressional action on digital assets.” He hinted that House approval of the GENIUS would hinge on pairing it with the CLARITY Act to ensure regulatory cohesion across crypto markets.
Trump Pushes for Clean Passage Without Modifications
In response to House developments, former President Donald Trump has publicly urged lawmakers to pass the GENIUS Act without alterations. He stressed the importance of delivering the bill to his desk “ASAP,” reflecting urgency in pushing stablecoin oversight before further political complexities arise.
However, the Senate Banking Subcommittee on Digital Assets has outlined certain changes in the Bill that they wish to make, which are still in their infancy. The addition of these possible changes to the already passed GENIUS Act could be a source of trouble that will delay the legislation further.
The GENIUS Act, which was initially presented at the beginning of this year, is the core of Trump’s wish to bring U.S. finance up-to-date. Through its rapid signing, it would be possible to certify that the stablecoin emitters have the regulatory clarity and reinforce the country’s leadership in blockchain innovation, should the House avoid entangling it with broader crypto bills.
Also Read: Donald Trump Urges US House to Pass GENIUS Stablecoin Bill ASAP