According to BlockBeats, on July 11, Eastern Time, Trump is expected to achieve his first significant legislative victory on cryptocurrency policy next week. House Republicans are preparing to pass a bill submitted by the Senate to establish new regulatory rules for stablecoins.
The U.S. House of Representatives is expected to vote on the Senate-proposed (GENIUS Act) early next week. The bill aims to establish the first regulatory framework for stablecoins pegged to the U.S. dollar, which has received bipartisan support in the Senate.
Trump signing the stablecoin bill could drive the development of the cryptocurrency industry. Cryptocurrency supporters hope that government endorsement can enhance legitimacy, promote adoption, and open doors for traditional financial institutions to venture into digital assets.