Next week, President Donald Trump could achieve his first landmark legislative victory in cryptocurrency policy as Republicans in the House pass a Senate-approved bill aimed at establishing official guidelines for stablecoins.
According to Politico, lawmakers in the House will vote early next week on the Senate's 'GENIUS Act'.
This move will introduce the nation's first regulatory framework for stablecoins, a type of digital token pegged to the dollar. This bill received bipartisan approval in the Senate last month and is likely to be the first cryptocurrency law passed by Congress.
If the president signs this measure, the cryptocurrency industry could receive a significant boost after years of seeking broader acceptance.
Supporters argue that clear federal delegation and a purpose-built set of rules for stablecoins will promote wider adoption and encourage mainstream financial institutions to explore digital assets.
The new law could also benefit the president's family as last year, his sons launched a stablecoin issuance project.
Along with the stable cryptocurrency bill, the House also plans to vote next week on a comprehensive amendment to cryptocurrency oversight regulations, which will divide responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission.
A third proposal to ban any form of digital currency from the U.S. central bank will also be brought up for discussion.
The House ends efforts to consolidate cryptocurrency bills.
The House Rules Committee will meet on Monday at 4 PM to review all three measures, potentially paving the way for a House vote on Tuesday.
These votes will end the House Republicans' efforts to merge all three cryptocurrency bills into one package to pressure the Senate. Instead, Senate Republicans, backed by Trump, have publicly advocated for and successfully passed the 'GENIUS Act' independently.
Republican leaders in the Senate have committed to addressing the independent market structure bill in September.
Previously, President Trump proudly declared that cryptocurrency had 'soared' under his leadership, while claiming that his tariff strategy and economic agenda had driven the price increase of digital assets.
While House leaders intend to send the Senate's stablecoin bill to the president unchanged, they continue to push for amendments.
The draft amendment of the broader market structure proposal, unveiled by House Financial Services Chairman French Hill on Thursday, includes an amendment for the 'GENIUS Act'.
Proposed amendments include updated accounting protocols, rights for commodity-backed stablecoins, and tighter issuance oversight, requiring both private and public non-financial entities to obtain approval from a designated review committee before launching a stablecoin.