- Trump champions GENIUS Act; Senate procedural divides revealed.
- Congressional vote set for tomorrow; potential CBDC contention.
- Financial markets react with significant stock declines reported.
Donald Trump met with Congress in the Oval Office to advocate for the GENIUS Act, influencing a scheduled vote. The vote’s outcome may immediately impact digital asset regulations amid divided Congressional opinions.
Trump, Congress Debate GENIUS Act Amid Investor Concerns
Trump, Congress Debate GENIUS Act Amid Investor Concerns
President Donald Trump, along with 11 Congressional members, held discussions on the GENIUS Act in the Oval Office. House Speaker Mike Johnson participated via phone to support a swift vote scheduled for tomorrow morning. Donald Trump stated, “The GENIUS Act is going to put our Great Nation lightyears ahead of China, Europe, and all others… Digital Assets are the FUTURE, and we are leading by a lot. Get the first Vote done this afternoon (ALL REPUBLICANS SHOULD VOTE YES!).“
Marked by calls for prohibitions on CBDCs, the Act faces opposition among some Republicans, notably Marjorie Taylor Greene, who criticize the lack of amendments. Investor sentiment remains cautious as regulatory pathways are unclear, affecting digital asset markets.
Immediate market reactions include a fall in stocks: Circle down more than 7%, Coinbase dropped over 4%, and MARA Holdings decreased by 2%. Such reactions indicate investor nervousness around potential regulatory shifts and unresolved procedural complexities.
Regulatory Battles Loom as GENIUS Act Vote Nears
Did you know? This is not the first procedural setback for the GENIUS Act. Earlier attempts in May 2025 faced issues over Trump family conflicts, highlighting ongoing legislative challenges.
As of the latest data from CoinMarketCap, USDC is valued at $1.00 with a market cap of $62.47 billion and a trading volume of $18.58 billion in the last 24 hours. The coin’s value remained unchanged over the past 24 hours.
Coincu analysts suggest that the GENIUS Act could lead to tighter regulations impacting USDC and other stablecoin protocols. Amid increased scrutiny, shifts may necessitate strategic adjustments for service providers to maintain market positions.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/348892-genius-act-congress-vote-discussions/