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Donald Trump revealed that after meeting with members of Congress, they now have enough support to pass the GENIUS Act through the House.
Trump said, “they have all agreed to vote tomorrow morning in favor of the Rule. Speaker of the House Mike Johnson was at the meeting via telephone, and looks forward to taking the Vote as early as possible.”
I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule. Speaker of the House Mike Johnson was at the meeting via telephone, and looks forward to taking the Vote as early as possible. I want to thank the Congressmen/women for their quick and positive response. MAKE AMERICA GREAT AGAIN!
The bill would establish a federal framework for stablecoins.
The resolution of the Republican impasse was significant for Trump’s domestic priorities and the legislative process in Congress. Passage of the GENIUS Act—the Guiding and Establishing National Innovation for U.S. Stablecoins Act—would establish a long-awaited federal framework to regulate stablecoins, a fast-growing type of cryptocurrency whose value is tied to assets such as the U.S. dollar.
Digital asset stakeholders and segments of the financial industry have called for such regulation, arguing it would provide certainty and unlock innovation. However, some Democrats and a smaller group of Republicans remain critical, highlighting concerns about potential conflicts of interest, safeguards against corruption and increasing Big Tech’s influence in finance.
Trump is keeping his promises!