- GENIUS Act sets rules for stablecoins tied to U.S. currency.
- Trump urges Republicans to support fast approval in the House.
- Lawmakers expected to vote on crypto bills by July 17.
President Donald Trump is calling on House Republicans to pass the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. The bill, which has already passed in the Senate, will now face a vote in the House. It is part of a broader legislative push during what lawmakers are calling “Crypto Week.”
Trump Urges Republicans to Pass GENIUS Act
President Trump says the GENIUS Act will help the United States lead the world in digital assets. In a message posted on Truth Social, Trump urged all Republicans in the House to support the bill. He said it would keep the U.S. ahead of countries like China and those in Europe.
The GENIUS Act intends to introduce a clear regulatory framework for stablecoins. These are digital tokens linked to traditional currencies, such as the U.S. dollar. The goal is to support stable and compliant growth in the digital asset space.
Trump said that passing the bill is key to securing economic leadership in blockchain and cryptocurrency. According to him, passing this law will strengthen the U.S. economy and give it a competitive edge.
Also Read| Senate Pushes GENIUS Act Forward, Will It Reshape Crypto Forever?
Multiple Crypto Bills Under Review
The GENIUS Act is one of several digital asset bills scheduled for debate this week. Another bill, the CLARITY Act, aims to define the roles and responsibilities of digital asset service providers. Lawmakers say the goal is to remove confusion and set clear rules.
Also under review is the Anti-CBDC Surveillance State Act. This bill proposes to ban the Federal Reserve from launching a central bank digital currency (CBDC). Supporters argue a CBDC could give the federal government too much control over private financial activity.
Democratic lawmakers have voiced strong opposition to these bills. They have launched what they call “Anti-Crypto Corruption Week” to stop the GENIUS and CLARITY Acts. They claim the bills favor industry groups and do not offer enough protection for consumers.
Votes on the GENIUS Act and related bills are expected to take place before July 17. Supporters in the House believe the bills will pass and move forward to the President for signing.
Also Read| U.S Senate Launches New CLARITY Act to Shape Crypto Market Rules
White House Aligns Crypto Bills With Economic Goals
Trump says the GENIUS Act supports his broader goal to strengthen the U.S. economy through innovation. He believes passing the bill will help the U.S. remain the top destination for digital finance. The President also said this move fits within his plan to “Make America Great Again” using new technologies.
If the House approves the GENIUS Act, it will head to Trump’s desk for final signing. With Senate approval already secured, the next step depends on a House vote. The White House continues to support fast action to advance national leadership in digital assets.
Also Read| Stablecoin Showdown: Crypto Bill Faces Collapse as Senate Democrats Withdraw Support