Trump urges House to pass GENIUS stablecoin bill: 'get it to my desk, ASAP'

Description

Trump pushes for swift House advancement of the GENIUS Act after Senate passage, though the House's competing STABLE Act may complicate the bill's progress.

Authors

Danny Park

Publish date

June 18, 2025

Publisher

The Block

Web URL

https://www.theblock.co/post/358821/trump-urges-house-to-pass-genius-stablecoin-bill

Referenced by

Trump urges House to advance GENIUS Act

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News story

The bill aims to set a regulatory structure around dollar-pegged cryptocurrencies, including requirements for stablecoins to be fully backed by U.S. dollars or similarly liquid assets, mandates annual audits for issuers with a market capitalization of more than $50 billion, and establishes guidelines for foreign issuance.

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Quote

"The House will hopefully move LIGHTNING FAST, and pass a 'clean' GENIUS Act," the U.S. President wrote on Truth Social. "Get it to my desk, ASAP — NO DELAYS, NO ADD ONS."

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