Donald Trump is not exactly known for subtlety, and he’s keeping that streak alive with the GENIUS Act. After the Senate gave the green light to the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, Trump wasted no time hopping on Truth Social to urge the House of Representatives to get a move on. Like, “LIGHTNING FAST” kind of move on.
“Get it to my desk, ASAP — NO DELAYS, NO ADD ONS,”
Trump posted in full caps, just to make sure no one missed the point. Honestly, you could feel the all-caps urgency from here.
GENIUS Act Gains Momentum, but STABLE Act Looms
So what’s all the fuss about? The GENIUS Act is a bipartisan-backed bill that creates a regulatory framework for U.S. dollar-pegged stablecoins. Think of it as a digital dollar rulebook. It requires:
- Full backing by U.S. dollars or similarly liquid assets
- Annual audits for stablecoin issuers with over $50 billion in market cap
- Guidelines for foreign-issued stablecoins
Trump’s been unusually vocal about digital assets lately (who had that on their 2025 bingo card?), claiming this bill will make the U.S. the “undisputed leader” in the crypto space. His words:
“Digital Assets are the future, and our Nation is going to own it.”
Bold claim, but hey, this is Trump we’re talking about.
Meanwhile, the House isn’t exactly twiddling its thumbs. The House Financial Services Committee recently pushed out its own rival stablecoin legislation: the STABLE Act (because apparently, naming crypto bills is now a branding war). This bill still needs a full vote in the House, but its existence could slow down GENIUS unless lawmakers decide to merge the two or play political Lego with the wording.
So will the GENIUS Act cruise through, or hit some STABLE speed bumps? Either way, the race to regulate stablecoins in the U.S. just got a lot more interesting, and, frankly, kind of entertaining.
Let’s just hope someone tells Congress that “lightning fast” and politics don’t usually go together.
Abimbola Adu
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