CoinVoice has learned that, according to Politico, Trump is expected to achieve his first significant legislative victory in cryptocurrency policy next week. House Republicans are preparing to pass a bill previously submitted in the Senate to establish new regulatory rules for stablecoins.
The U.S. House of Representatives is expected to vote early next week on the Senate-proposed (GENIUS Act). This bill aims to establish the first regulatory framework in the U.S. for so-called 'stablecoins' that are pegged to the dollar. The bill was passed last month in the Senate with bipartisan support and is poised to become the first significant cryptocurrency regulatory measure adopted by the U.S. Congress.
Trump's signing of this stablecoin bill could provide a significant boost to the cryptocurrency industry, which has long struggled to gain mainstream acceptance. Supporters of cryptocurrency hope that the endorsement from the U.S. government, along with the customized regulatory framework they have actively lobbied for in Congress over the years, will enhance the legitimacy of cryptocurrencies, promote their adoption, and open the door for traditional financial institutions to further engage with digital assets.
This legislation could also bring benefits to the Trump family itself: his sons founded a stablecoin issuance company last year. [Original link]