Trump Demands “Lightning Fast” Passage of GENIUS Stablecoin Bill
Trump Calls for Immediate House Action on Historic Stablecoin Legislation
President Donald Trump has issued an urgent call for the House of Representatives to pass the GENIUS Act “LIGHTNING FAST” following its historic approval in the Senate. The bipartisan stablecoin legislation represents the first major federal cryptocurrency regulatory framework in US history.
Trump demands swift House action ( CBS News )
In a Truth Social post Thursday, Trump declared: “The Senate just passed an incredible Bill that is going to make America the UNDISPUTED Leader in Digital Assets.” He emphasized the urgency with capital letters: “Get it to my desk, ASAP — NO DELAYS, NO ADD ONS.”
Senate Delivers Historic 68-30 Victory for Crypto Industry
The US Senate passed the Guiding and Establishing National Innovation for US Stablecoins Act with overwhelming bipartisan support. The 68-30 vote marked the first time Congress has approved comprehensive cryptocurrency legislation, representing a watershed moment for the digital asset industry.
Historic Senate vote delivers crypto victory ( South China Morning Post )
Eighteen Democrats joined Republicans in supporting the measure, despite opposition from figures like Senator Elizabeth Warren, who criticized potential conflicts of interest related to Trump’s cryptocurrency ventures.
What the GENIUS Act Means for Stablecoin Regulation
The legislation establishes comprehensive federal oversight for dollar-pegged stablecoins, requiring:
- Full Reserve Backing: 1:1 asset backing for all issued stablecoins
- Federal or State Licensing: Mandatory regulatory approval for issuers
- Consumer Protections: Priority repayment rights in bankruptcy scenarios
- AML Compliance: Anti-money laundering and terrorism sanctions adherence
Comprehensive regulatory framework overview ( ComplyAdvantage )
Industry Impact and Market Response
Major cryptocurrency companies have expressed strong support for the legislation. Circle, the world’s second-largest stablecoin issuer, saw its shares surge nearly 170% following its recent public listing amid regulatory optimism.
Senator Bill Hagerty, the bill’s sponsor, emphasized the legislation would “allow businesses of all sizes, and Americans across the country to settle payments nearly instantaneously rather than waiting for days or sometimes even weeks.”
Market celebrates regulatory clarity ( Bloomberg )
Political Hurdles and Democratic Opposition
The bill faced significant Democratic resistance over concerns about Trump’s cryptocurrency investments. Senator Warren argued the legislation provides “thin regulation” that could enable conflicts of interest without adequate oversight.
However, 18 Democrats ultimately supported the measure, recognizing the need for regulatory clarity in the rapidly evolving digital asset space. Senator Ben Ray Luján noted: “Many constituents of mine already have money in stablecoin, and there are no rules. There should be rules surrounding this.”
Next Steps: House Vote and Presidential Signature
With Republicans holding a slim House majority, passage appears likely. The legislation then heads to President Trump’s desk for final signature into law.
This represents the culmination of extensive crypto industry lobbying efforts, including over $130 million in campaign contributions during the 2024 election cycle. Crypto-backed candidates won 53 of 58 targeted races, demonstrating the industry’s growing political influence.
The GENIUS Act positions America as the global leader in digital asset regulation while providing the regulatory certainty the cryptocurrency industry has long sought. For investors and institutions, this landmark legislation removes significant barriers to stablecoin adoption and mainstream financial integration.
