The GENIUS Act stablecoin bill has just been passed by the U.S. House of Representatives, preparing to be presented to President Donald Trump for approval to become law.
This marks the first significant step in cryptocurrency legislation in the United States aimed at legalizing regulated stablecoins and integrating them deeply into the financial system.
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The U.S. House of Representatives passed the GENIUS Act stablecoin bill with a vote of 308-122, paving the way for legalization.
This is a major breakthrough in the cryptocurrency industry, strongly supported by SEC leaders and CEOs in the field.
The bill will promote technological innovation and protect users while creating a clear legal framework in the United States.
How was the GENIUS Act stablecoin bill passed?
With a vote of 308 in favor and 122 against, the U.S. House of Representatives has agreed for the GENIUS Act to move forward to President Donald Trump for signing into law. This marks the first time a regulation related to cryptocurrency has been officially recognized by U.S. legislation.
Over 100 Democratic members coordinated with a majority of Republicans to pass the bill, demonstrating high consensus and the importance of bringing stablecoins into legal standards. However, this process was not easy as Republicans faced opposition from Democrats who wanted to include a clause on presidential ethics related to the Trump family's transactions.
Before the vote, there were obstacles related to including central bank-issued digital currencies (CBDCs) in the draft, disrupting the schedule. President Trump's intervention helped the bill advance to a timely vote during the week called ‘crypto week.’
The significance and impact of the bill on the cryptocurrency industry
The GENIUS Act is seen as the most significant turning point in the cryptocurrency field in the United States, establishing a transparent legal framework for stablecoins and related services for the first time.
This is an important step to promote innovation by providing the cryptocurrency industry with clear rules.
Paul Atkins, SEC Chairman, 07/25/2025
Brad Garlinghouse, Ripple CEO, stated that this is the most important financial legislation since the 2008 crisis, saying that this law will usher in a new era for the digital currency industry.
This historic moment promises profound changes with the enacted transformative legislation.
Brad Garlinghouse, Ripple CEO, 07/25/2025
Stuart Alderoty, Ripple's General Counsel, also emphasized that the bill helps protect consumers and promotes innovation – things that the American public expects. Brian Armstrong, the founder of Coinbase, called this a historic day for cryptocurrency in Washington, but noted the need to continue monitoring the CLARITY Act to finalize the legal framework.
How has the political situation influenced the process of passing the bill?
The week dubbed ‘crypto week’ by the Republican party highlighted various cryptocurrency bills; however, opposition from the Democratic group, led by Rep. Maxine Waters, created controversy.
The Democratic group called for the addition of an ethical clause regarding the president, related to findings of potentially fraudulent transactions by the Trump family in the cryptocurrency sector. This opposition led to a delay in discussions in the House of Representatives, complicating the swift progress of the bill.
Ultimately, President Trump intervened directly to push the bill to a vote, showing the political importance of this process.
The actual impacts on the cryptocurrency industry if the law is enacted
Introducing a clear legal framework for stablecoins will encourage companies to develop cryptocurrency products and services more safely, enhancing investor and user trust.
The upcoming law could help increase liquidity, support the integration of stablecoins into traditional financial ecosystems, while also boosting the growth of the cryptocurrency market in the United States.
Frequently Asked Questions
What is the GENIUS Act?
This is the first bill in the United States to standardize stablecoins and create a legal framework for cryptocurrencies within the financial system, aimed at promoting innovation and protecting consumers.
Why is the GENIUS Act important for the cryptocurrency industry?
The law helps the industry grow based on clear regulations, reduces risks, attracts investments, and enhances the reputation of cryptocurrencies in the eyes of financial institutions.
Who supports this bill?
Most Republican lawmakers coordinated with over 100 Democratic lawmakers and SEC leaders like Paul Atkins to emphasize the urgency and significance of the bill.
What does the GENIUS Act have to do with CBDCs?
The bill focuses on stablecoins but there was previously debate about including central bank digital currencies (CBDCs), causing delays before being resolved.
Does the GENIUS Act help protect cryptocurrency users?
Yes, the bill is designed to protect consumer rights, creating a transparent and safe environment for cryptocurrency activities.
Source: https://tintucbitcoin.com/genius-act-day-tien-tien-dien-tu/
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