Trump Promotes Senate-Passed GENIUS Act for Crypto Innovation – Coincu

The U.S. Senate passed the GENIUS Act on June 18, 2025, with 68–30 votes, aiming to foster large-scale investment in digital assets.

The GENIUS Act seeks to provide a regulatory framework for payment stablecoins, promoting innovation and bolstering market stability. Key supporters include President Trump and Senate Banking Committee Chair Tim Scott, emphasizing leadership in cryptocurrency regulation.

Senate’s GENIUS Act Passes with Bipartisan Support

The GENIUS Act emerged with bipartisan backing, reflecting a unified effort to enhance the United States’ position in digital innovation. The Senate’s approval marks a significant step, moving the focus to the House of Representatives for further action.

Regulatory clarity is set to benefit the burgeoning stablecoin industry, particularly tokens like USDC and USDT, by establishing compliance pathways. This could expand the sector significantly, aligning with Treasury projections of a potential $3.70 trillion market size.

“Today is a bold step forward – not just for financial innovation, but for American leadership, consumer protection, and economic opportunity,” — Tim Scott, U.S. Senate Banking Committee Chairman, source.

GENIUS Act Mirrors EU’s Successful MiCA Framework

Did you know? The GENIUS Act parallels the EU’s MiCA regulation, which previously spurred stablecoin adoption and laid a foundation for institutional onboarding in its jurisdiction.

USDC is trading at $1.00 with a market cap of $61.52 billion, reflecting a stable market amid recent legislative movements. It maintains a trading volume of $10.19 billion over 24 hours despite a slight 0.01% decrease in value based on CoinMarketCap records as of June 19.

Insights from the Coincu research team indicate potential growth in stablecoin-backed DeFi applications, catalyzed by increased institutional interest. This follows trends seen in similar regulatory environments, suggesting a positive outlook for U.S. digital asset markets.