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

U.S. President Donald Trump urged the House of Representatives to swiftly advance the GENIUS Act for his final sign-off.The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act passed final voting from the Senate with bipartisan support on Tuesday, moving it for decision in the House. "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."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. Trump, who has publicly endorsed U.S. dollar stablecoins, said that the bill is going to make the U.S. the "undisputed leader" in digital assets."Digital Assets are the future, and our Nation is going to own it," Trump wrote. "We are talking about MASSIVE Investment, and Big Innovation."Meanwhile, the House Financial Services Committee advanced its own stablecoin legislation, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act, out of its committee. It has yet to be brought to a full House vote.This may require additional consideration for the GENIUS Act's further advancement, as House representatives might seek to integrate elements of the STABLE Act or prioritize their own legislation.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.