US House of Representatives set to approve CLARITY and GENIUS Acts to strengthen stablecoin governance
Senator Cynthia Lummis predicts that the CLARITY Act and the GENIUS Act will be passed by Congress and signed into law by the President before the end of the year. These two bills aim to create a transparent legal framework for stablecoins and cryptocurrency market structures.
At the Bitcoin Policy Conference in Washington, D.C., Lummis shared progress on the Digital Asset Market Clarity Act (CLARITY Act) in the House and the GENIUS Act in the Senate, saying she would be “very disappointed” if the bills do not pass by 2026.
President Trump's Role in the Cryptocurrency Industry
The representative from Wyoming highlighted the difficulty in attracting bipartisan support for cryptocurrency-related bills, citing “concerns that certain individuals with relatives in government will unfairly benefit from new legislation.”
“I don’t want to put forward a piece of legislation that only one side feels is not fully engaged with,” Ms. Lummis asserted.
Of the 68 senators who voted in favor of the GENIUS Act on June 17, only 18 were Democrats. However, many remain opposed until President Donald Trump’s ties to the cryptocurrency industry and the potential for personal gain are clarified.
The bill bans members of Congress and their families from profiting from stablecoins, but does not apply to the President and his family, even though Trump has built a crypto empire from the White House.
According to Cryptopolitan, Trump hosted a private dinner at a Virginia golf course with major investors who also own World Liberty Financial, a cryptocurrency project that issues the $1 stablecoin World Liberty.
Public financial reports show that Trump earned $57.35 million from World Liberty Financial's token sale in 2024. Total revenue from his meme coin is estimated at $320 million, but the money was split among various investors.
Republicans control the House of Representatives by a narrow majority, so the market structure and stablecoin bill needs at least Democratic support to pass. The GENIUS Act is expected to be considered before Congress's August recess. Trump has said he is willing to sign it without amendments if the bill passes quickly.
The Connection Between the CLARITY Act and the GENIUS Act
The CLARITY Act provides an overarching regulatory framework for all types of digital assets, while the GENIUS Act focuses specifically on stablecoins. Lawmakers stressed that regulating stablecoins in isolation is shortsighted without clearly defining the regulatory stance on cryptocurrencies as a whole.
The two bills combine to create a more robust regulatory system that would help the United States cement its leadership in digital banking and address regulatory bottlenecks.
Some lawmakers also raised conflict of interest concerns about passing the GENIUS Act alone, particularly given President Trump’s ties to World Liberty Financial’s stablecoin. Combining it with the comprehensive CLARITY Act could alleviate these concerns while also securing bipartisan support.
Additionally, as stablecoins become more popular and large financial institutions enter the market, adopting a two-layer regulatory framework model will provide the necessary legal certainty, promote sustainable innovation, and protect investors.
Source: https://tintucbitcoin.com/cynthia-lummis-huong-toi-2-du-luat-2026/
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