Trump Urges Quick House Vote on GENIUS Act to Boost U.S. Crypto Leadership

Highlights:

• Trump calls for the House to pass the GENIUS Act without changes.
• The Senate passed the bill with bipartisan support.
• The GENIUS Act provides clear rules for stablecoin issuers.

The GENIUS Act passed a significant milestone when it received solid bipartisan support in the Senate. The bill passed through the Senate by a 68-30 vote, and it is now subject to further action by the House of Representatives. The development has been hailed by U.S. President Donald Trump as a huge win for the future of digital finance.

According to a Truth Social post by Trump, he urged the House to now pass the bill as fast as it could, with or without changes. He emphasized how stalling or making changes could be detrimental to the status of America in the digital asset ecosystem. The White House stands its ground that the GENIUS Act should proceed without any attachments to other rival bills.

President Trump stated that the Senate has just passed an “incredible” bill that will make the United States the “undisputed leader” in the field of digital assets. He called the bill a “pure genius,” saying it would bring massive investment and major innovation. He urged the…

— Wu Blockchain (@WuBlockchain) June 19, 2025

Trump also pointed out that the legislation would position the U.S. as the undisputed global leader in the stablecoin market. He cautioned that the effort to combine it with other proposals, including the STABLE Act or the CLARITY Act, would delay the process. The STABLE Act has recently passed the House Financial Services Committee, but it is yet to touch the floor for a vote.

GENIUS Act Sets Federal Stablecoin Rules

The GENIUS Act provides an effective regulatory structure for payment stablecoins in the U.S. Along with this, it requires 1:1 reserve backing, annual auditing of large issuers, and stringent consumer protection. The new rules are expected to instill uniformity and safety in the robust, booming stablecoin industry.

The bill requires the stablecoin reserves to be kept in low-risk government securities or cash. Issuers would not be allowed to use reserves to invest riskily, which would satisfy the concern over shadow banking. Furthermore, it is also going to require licensing either at the state or federal level, depending on the scope of operation of the issuer.

The bill also contains anti-money laundering compliance and operational disclosure. It imposes increased supervision on issuers that have over $50 billion in market value. In addition, high standards are also necessary for foreign issuers that wish to operate in the United States. The enactment of the GENIUS Act would mark the first extensive legislation to govern stablecoins in the nation. Proponents maintain that it will induce innovation, enforce compliance, and safeguard dollar supremacy. However, the opponents argue that it might be essential to integrate it with the broader legislation.

Trump Pushes for Clean Bill Passage in the House

The GENIUS Act bill is now in the hands of the House to make the final move to become law. Trump has been pushing lawmakers to avoid a delay or legislative add-ons. Additionally, he insists on a clean version being sent directly as a way of capitalizing on the momentum in the Senate.

Some members of the House are suggesting that the bill should be combined with other bills related to crypto. But Trump maintains that this will make the process complicated and will slow progress. His administration is focusing on a stablecoin framework that is fast and provides market certainty.

Trump again stressed that digital assets are one of the major components of economic development in the future. Earlier, he said that stablecoins have the potential to make the U.S. dollar stronger internationally. His stance coincides with crypto giants, such as Coinbase and Ripple, who support the GENIUS Act as a move toward legal certainty.

For YEARS, crypto companies have been calling on Congress to pass crypto legislation and set rules of the road. This is the first major financial bill since Dodd-Frank — the first crypto bill to pass in the Senate, which now moves to the House, a truly historic moment.

Thank… https://t.co/Urt2wc9fG6

— Brad Garlinghouse (@bgarlinghouse) June 17, 2025

Despite a few lawmakers being skeptical, there is increasing support for the bill. The House Republican majority is narrow, and this can affect the speed and the trend of the vote. Should the House approve it unamended, it will go straight to the table of Trump to be signed into law.