In a bold move, Trump has called the Senate‑passed GENIUS crypto bill “incredible”, urging House Republicans to push it straight through—“NO DELAYS, NO ADD‑ONS”—setting the stage for a high‑stakes legislative showdown.
Trump Declares Crypto Bill “Incredible”
This is a rare moment when crypto policy could see swift, decisive action. Trump is putting maximum pressure on fellow Republicans—“NO DELAYS, NO ADD‑ONS”—and the House’s response will signal whether Congress prioritizes a rapid legislative win or seeks a broader regulatory overhaul.
What is the GENIUS Act?
The GENIUS Act stands for Guiding and Establishing National Innovation for US Stablecoins Act. It’s the first major U.S. law to regulate dollar-pegged stablecoins at the federal level. Key elements include:
- 1:1 reserve backing
- Required licensing—either federal or state
- Anti‑money laundering protocols
- Protections for consumers
- Restrictions on reserve use—only low‑risk investments like U.S. Treasuries
Supporters say it could cement U.S. dominance in global digital finance, enabling near-instant payments
Trump’s Urgent Push
Speaking on Truth Social, Trump praised the measure as both “incredible” and “pure GENIUS,” and directed the House to act immediately: “Get it to my desk, ASAP — NO DELAYS, NO ADD‑ONS.”
Speaking to Cointelegraph, he echoed that sentiment—call it “LIGHTNING FAST”.
Why this rush?
- He frames it as a win for U.S. leadership in digital assets
- Avoids tweaks that might complicate passing in the split‑Senate
Why Stakes Are High
In the Senate, Bill Hagerty (R‑TN) sponsored the measure, seeing it as a chance for a bipartisan crypto victory before July 4.
But in the House, some Republicans favor a broader crypto package—covering DeFi, tokens, wallets, and enforcement—but others caution that any changes will send it back to the Senate, stalling the momentum .
Democratic concerns persist: Senator Elizabeth Warren fears Trump and his family might profit from stablecoins tied to the bill, while Senator Mark Warner warns delaying risks ceding control to less regulated jurisdictions.
Broader Implications
If the House fast-tracks the GENIUS Act:
- U.S. stablecoins would be regulated and federally licensed
- Digital payments could become faster & more secure
- The U.S. could take the lead in global digital payments infrastructure
If not:
- The bill may stall in legislative limbo
- Broader crypto oversight proposals might be lost
- Other countries could gain ground in the crypto‑fintech race
What’s Next?
- House Financial Services Committee must finalize any version.
- A House floor vote—likely with internal GOP debate on amendments.
- If it passes in clean form, it heads to Trump’s desk—who’s ready to sign it into law.
The deadline? A push to land it before the August recess.
Frequently Asked Questions
What exactly is the GENIUS Act?
It’s a federal regulatory framework for stablecoins—requiring full reserves, licensing, AML compliance, and consumer protections.
Could Congress still amend the bill?
Yes—but House Republicans risk derailing the legislation by tacking on other crypto-related provisions, potentially sending it back to the Senate.
Will this make U.S. stablecoins dominant globally?
That’s the goal—supporters say a clear U.S. framework gives issuers and investors confidence, helping to keep digital-dollar innovation domestic.
