As digital currencies move closer to mainstream regulation, U.S. President Donald Trump is urging lawmakers to fast-track legislation that could define the future of stablecoins in America.
On Tuesday, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act cleared its final hurdle in the Senate with bipartisan support. Now, all eyes turn to the House of Representatives, where the bill awaits further action.
Trump wasted no time in making his position clear. Posting on Truth Social, he called on the House to “move LIGHTNING FAST” and pass a clean version of the bill without amendments.
“Get it to my desk, ASAP — NO DELAYS, NO ADD ONS”
He wrote it, reinforcing his previous pledge to sign stablecoin legislation into law by August.
The GENIUS Act is designed to lay the groundwork for a regulatory framework around dollar-backed stablecoins. It includes several key provisions:
- Stablecoins must be fully backed by U.S. dollars or comparable liquid assets
- Issuers with more than $50 billion in market capitalization will be subject to annual audits
- Specific rules will be set for foreign stablecoin issuers operating in the U.S.
Trump, who has increasingly leaned into the digital asset space, has positioned the bill as a landmark moment for American financial leadership.
“Digital Assets are the future, and our Nation is going to own it,” he wrote. “We are talking about MASSIVE Investment, and Big Innovation.”
While the GENIUS Act picks up speed, the House is also advancing a competing proposal. The Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act recently passed through the House Financial Services Committee. Although it hasn’t reached the House floor yet, the existence of a parallel bill could influence how or when the GENIUS Act proceeds. Lawmakers may consider merging elements of the two or reshaping the final version before it reaches the president.
