Trump Urges Swift Approval for GENIUS Stablecoin Act

By: Isha Das

The passage of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act marks a significant milestone in the United States' approach to digital currency regulation. Recently, US President Donald Trump has been vocal in his support for this pivotal bill. President Trump has encouraged the House of Representatives to pass the GENIUS Act swiftly following its approval by the Senate.

Amid ongoing debates over the influence of the tech sector and potential conflicts of interest, Trump has expressed an urgency for the House to approve the bill without any modifications. In his statements on social media, particularly on Truth Social, Trump referred to the GENIUS Act as an essential framework that could consolidate America’s leading position in the global digital assets market. "Get it to my desk, ASAP — NO DELAYS, NO ADD ONS," Trump urged, emphasizing the critical nature of the bill.

The Senate passed the GENIUS Act with a 68-30 vote, showcasing notable support despite the contentious nature of its contents. Advocates argue the bill is designed to uphold the dominance of the US dollar amidst the burgeoning global digital economy. By laying the groundwork for regulated stablecoins, the GENIUS Act aims to provide a solid structure for innovation in the financial sector while ensuring economic stability and safeguarding national interests.

While the bill enjoys significant backing, it has also sparked discussions around crypto oversight and its implications for monetary policy. As the House prepares to debate the GENIUS Act, the outcome will be closely watched by both lawmakers and industry stakeholders eager to see how the United States will navigate the future of cryptocurrency regulation.