Digital Currency, Political Currency
A Crypto Showdown
President Donald Trump and Senate Republicans are pressing the House to quickly pass the GENIUS Act,
a bipartisan stablecoin bill that cleared the Senate 68–30.
The measure would set federal standards requiring stablecoins to be fully backed by liquid assets and subject to monthly disclosures.
Trump’s Push
“This is not just a financial issue; it’s a national innovation priority,” said Bo Hines, Trump’s digital assets adviser.
Trump wants the bill signed into law by August, while sponsor Sen. Bill Hagerty (R-Tenn.) warned that reopening negotiations could “jeopardize everything.”
House Resistance
House Republicans, led by Financial Services Chair French Hill, argue a narrow bill isn’t enough.
They’re weighing broader crypto legislation that could reshape digital markets.
“We don’t want to pass a bill that misses the bigger picture,” one GOP aide said.
What’s at Stake
With $119 million in lobbying and stablecoins central to crypto trading, industry leaders say momentum is fragile.
“The stars have aligned,” Hines cautioned, “but they won’t stay that way forever.”
