US President Donald Trump has thrown his weight behind the Senate’s stablecoin bill, calling it “pure GENIUS” and urging the House to pass it “lightning fast.”
He warned members like Congressman French Hill against altering the Senate text or folding it into a larger crypto package. The Senate approved the bill one day before his post, setting a clear deadline: get it to my desk “ASAP.”
Some worry that a standalone vote could undercut efforts to address token securities, DeFi and exchange oversight all at once.
Senator Bill Hagerty, the bill’s sponsor, told reporters he hopes to send the GENIUS Act to Trump before July 4th. He warned that if the House adds “market structure” language, the entire package would need to return for more Senate review.
Months of tough talks in the upper chamber narrowly secured enough GOP support—and some Democratic votes—to pass the legislation under the 60‑vote threshold.
According to industry experts, clear US rules could help stablecoin issuers like Circle and Paxos avoid a patchwork of state licenses. The EU, Singapore and Hong Kong are already drafting their own frameworks. Without swift action, these firms may relocate overseas, taking banking ties and talent with them.
Featured image from Unsplash, chart from TradingView
