According to Cointelegraph, U.S. President Trump urged the House of Representatives to quickly pass the (U.S. Stablecoin National Innovation and Establishment Act) (GENIUS Act) so that he can formally sign it into law. Trump stated on Truth Social that the Senate has passed a bill that will make the United States the undisputed leader in digital assets.
The Senate passed the GENIUS Act by a vote of 68-30 on Tuesday, and it will next be voted on in the House, which has a narrow Republican majority. Many supporters believe the bill is crucial for maintaining the dollar's dominant position in global finance. Bill sponsor Senator Bill Hagerty stated that the bill will enable various businesses and Americans to settle payments almost instantly without having to wait days or even weeks.