‘Happy crypto week’: Trump hails GENIUS Act, says US will soon become ‘undisputed’ leader in digital assets

The US House of Representatives is set to pass a series of crypto-related bills this week, which the Republican majority has dubbed "crypto week".

“Happy crypto week! The House will soon vote on a tremendous bill to make America the undisputed, number one leader in digital assets – Nobody does it better! The GENIUS Act is going to put our great nation lightyears ahead of China, Europe, and all others, who are trying endlessly to catch up, but they just can’t do it,” the POTUS exulted.

The stalled legislation includes a Senate-passed bill to regulate a form of cryptocurrency known as stablecoins, along with far more sweeping measures aiming to address cryptocurrency market structure. Another bill would prohibit the Federal Reserve from issuing a central bank digital currency. The disagreement blocking the bills from advancing centers on how the three bills would be passed. US President Donald Trump extended ‘crypto week’ greetings on Tuesday — insisting that the country would soon become the “undisputed, number one leader in digital assets”. The remarks came ahead of a procedural vote to consider some long-awaited cryptocurrency legislation in Congress with the POTUS urging all Republicans to vote in agreement. Hours later the process was stalled in the US House of Representatives after a bloc of Republicans unexpectedly joined with Democrats to prevent the legislation from coming up for debate and votes. “Digital Assets are the future, and we are leading by a lot! Get the first Vote done this afternoon (all Republicans should vote yet!). This is our moment – Digital assets, GENIUS, clarity! It is all part of Making America Great Again, bigger and better than ever before. We are leading the world, and will work hard with the Senate and the House to get even more legislation on this passed!” Trump added.