Stablecoin Legislation: House Vote on GENIUS Act Nears
President Donald Trump is poised for a significant crypto policy win as the U.S. House prepares to vote on the Senate-passed GENIUS Act. This bill will establish the first comprehensive U.S. regulatory framework for stablecoins—digital assets pegged to the dollar. Having already cleared the Senate with bipartisan support, the GENIUS Act is expected to pass the House next week, sending it directly to the president’s desk for final approval.
Trump and Crypto: Boosting Industry Legitimacy
If signed into law, the GENIUS Act could deliver a major boost to the crypto sector, which has long sought mainstream recognition. Industry advocates believe regulatory clarity for stablecoins will encourage greater adoption and open the door for traditional financial institutions to participate more actively in digital asset markets. This development would mark the first major piece of crypto regulation ever passed by Congress, further solidifying the U.S.’s stance on digital finance.
Trump Family Ventures: Ties to Stablecoins
The law could also benefit the Trump family directly. In 2024, President Trump’s sons launched a company called World Liberty Financial, which now issues its own stablecoin, USD1. With stablecoin regulation about to become law, the Trump-backed firm may enjoy greater legitimacy and expanded market access. Trump himself has publicly supported the GENIUS Act, calling it a move to “make America the undisputed leader in digital assets.”
Broader Crypto Reforms: Market Structure in Focus
Alongside the GENIUS Act, the House is also set to consider two other significant crypto-related bills next week. One is a market structure reform bill that would divide oversight of digital assets between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). This measure aims to provide a clear jurisdictional framework for digital assets, a long-standing issue that has hindered regulatory enforcement.
Anti-CBDC Bill: Blocking a Digital Dollar
The third proposal up for a vote is the CBDC Anti-Surveillance State Act, which seeks to prevent the Federal Reserve from issuing a central bank digital currency (CBDC). Supporters argue that a government-backed digital dollar could pose privacy risks and increase federal surveillance over personal financial activity. The House vote signals a growing Republican push to keep digital currencies decentralized and market-driven.
House Strategy: Dropping the Bundle Approach
Initially, House Republicans aimed to package all three crypto bills together to pressure the Senate into acting on the full suite. However, that strategy was scrapped after Senate Republicans and Trump allies advocated for advancing the GENIUS Act independently. The current plan is to approve the stablecoin bill as-is, while revisiting the market structure reforms in a standalone measure come September.
Proposed Amendments: House Tweaks to GENIUS Act
Despite backing the Senate version, House lawmakers are still looking to make changes. A revised draft of the House Financial Services Committee’s market structure bill includes several proposed amendments to the GENIUS Act. These include revised accounting standards, the introduction of commodity-backed stablecoins, and expanded approval requirements for both public and private companies seeking to issue stablecoins.
Political Outlook: A Defining Week for Crypto Policy
With the House Rules Committee set to meet Monday to finalize legislative procedures, floor votes on all three bills could begin as early as Tuesday. If passed, this would mark a watershed moment for U.S. crypto regulation. For President Trump, it would be a policy milestone aligning with his broader economic agenda, and for the crypto industry, it signals a long-awaited step toward clarity and mainstream legitimacy.
