GENIUS Act Will Make America the Undisputed Leader in Digital Assets, Says Donald Trump

Donald TRUMP has thrown his weight behind the GENIUS Act, a Senate-approved bill aimed at regulating stablecoins. In a post on Truth Social, Trump hailed the legislation as a "brilliant step forward" that would cement the U.S. as the dominant force in digital assets. He urged the House to pass the bill swiftly, warning against delays or additional amendments.

The GENIUS Act, which cleared the Senate with a 68-30 vote, establishes the first federal framework for stablecoins. It mandates full 1:1 reserve backing, stringent licensing requirements, and robust anti-money laundering controls. The bill also restricts how issuers can deploy reserves, aiming to curb risky practices and safeguard consumers.

While House Republicans largely support stablecoin regulation, some are pushing to merge the GENIUS Act with broader crypto legislation. Trump has cautioned against this approach, arguing it would slow momentum. Senator Hagerty is reportedly pushing for the bill to reach the president's desk before the end of the current session.