U.S. Readies Vote on New Cryptocurrency Legislation

The U.S. House is set to vote on the GENIUS Act this afternoon, with key support from President Trump.

The bill seeks to position the U.S. as a global digital asset leader, influencing stablecoin regulations.

GENIUS Act Gains Presidential Support and Republican Backing

In a bold move, President Donald Trump threw his support behind the GENIUS Act, highlighting a pivotal shift in the U.S. digital asset landscape. Supported by key Republican leaders, the bill aims to secure America’s leading role in the digital space.

The GENIUS Act will impose stricter stablecoin regulations, mandating 1:1 liquid reserves and monthly disclosures, thereby increasing transparency while potentially raising issuer compliance costs. The changes anticipate boosting institutional trust while shifting the competitive landscape among stablecoin issuers.

House Majority Whip Tom Emmer emphasized the act’s importance for U.S. innovation. “These pieces of legislation are vital to ensuring America is at the forefront of innovation in the digital asset space. I look forward to enacting the GENIUS Act into law, and to working with my colleagues to move the CLARITY Act through the Senate in short order.” Tom Emmer. Republican leaders, including Patrick McHenry have voiced strong approvals, broadcasting confidence in the initiative’s potential to define future digital asset governance.

Analyzing GENIUS Act’s Potential Market Influence

Did you know? The GENIUS Act follows in the footsteps of the original Stablecoin TRUST Act, which similarly aimed to provide clarity but sparked volatility in stablecoin supplies and DeFi platforms between 2019-2023.

USDC, with a current price of $1.00, holds a market cap of $62.41 billion, fully liquid according to CoinMarketCap. The stablecoin’s circulating supply matches its market cap, ensuring constant stability. Recent price movement shows a marginal 0.01% change over the last 24 hours.

Coincu’s research team suggests that pending regulatory clarity under the GENIUS Act, the U.S. could see notable increases in stablecoin activity. Stricter compliance may drive smaller issuers out, consolidating market share with federally backed projects.