U.S. President Donald Trump on Wednesday praised the Senate’s passage of the GENIUS Act, a bill aimed at regulating stablecoins, and urged the House of Representatives to pass it quickly without amendments. The legislation, which lays out a regulatory framework for stablecoin issuers, is now under consideration in the Republican-controlled House. If passed, it will be sent to Trump for final approval.
In a Truth Social post, Trump wrote, “The House will hopefully move LIGHTNING FAST, and pass a ‘clean’ GENIUS Act. Get it to my desk, ASAP — NO DELAYS, NO ADD ONS.” The bill is seen as a major step toward fulfilling Trump’s campaign promise to support pro-crypto regulation in the U.S.
The GENIUS Act proposes clear guidelines for stablecoin issuers, including reserve requirements and monthly reserve disclosures. These rules aim to bolster trust in stablecoins, a key component of the digital asset ecosystem. Stablecoins are cryptocurrencies designed to maintain a stable value, typically pegged to the U.S. dollar, and are widely used in crypto trading and increasingly in traditional payments.
Circle’s USDC and Tether’s USDT dominate the stablecoin market. Following the Senate vote, Circle Internet Group Inc. (NYSE:CRCL), the operator of USDC, surged nearly 34% on Wednesday. Meanwhile, Bitcoin remained steady around $104,000.
The GENIUS Act’s advancement highlights growing bipartisan attention to digital asset regulation. Supporters believe it will solidify the U.S. position as a global leader in blockchain innovation while enhancing transparency and consumer protection in the crypto sector.
With Trump championing the bill and markets responding positively, the GENIUS Act could mark a pivotal moment for stablecoin adoption and regulatory clarity in the United States.
