Trump Brokers Game-Changing Crypto Deal—House to Vote on GENIUS Act as Regulatory Logjam Breaks
Washington's crypto freeze is thawing—fast. Former President Donald Trump just brokered a political deal to unclog stalled digital asset legislation in the House, with the controversial GENIUS Act now racing toward a floor vote.
The move signals a seismic shift in DC's crypto posture. After years of regulatory paralysis—where lawmakers treated blockchain like a radioactive meme stock—suddenly everyone's scrambling to claim their piece of the digital gold rush. Wall Street banks are already drafting 'how to crypto' PowerPoints for their boardrooms.
Key details remain opaque (this is politics, after all), but insiders confirm the agreement bypasses traditional committee gridlock. The GENIUS Act—previously left for dead in bureaucratic purgatory—could now reshape everything from stablecoin oversight to crypto taxation. Just don't ask who'll actually enforce these rules when the SEC and CFTC are still fighting over jurisdiction like two hedge funds shorting each other.
Market reaction? Predictably volatile. Bitcoin pumped 3% on the rumor before giving back half the gains—because nothing says 'sound monetary policy' like legislation-by-headline. Meanwhile, crypto lobbyists are buying champagne while quietly updating their LinkedIn profiles. In Washington, even 'landmark deals' come with expiration dates.
Trump steps in to revive crypto regulations
Donald TRUMP announced on his Truth Social post on Wednesday that the GENIUS Act is ready to pass through the House of Representatives during the legislative “Crypto Week.”
Trump said, “I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule.”
He continued, “Speaker of the House Mike Johnson was at the meeting via telephone, and looks forward to taking the vote as early as possible. I want to thank the Congressmen/women for their quick and positive response.”
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This announcement comes after lawmakers failed to pass a procedural motion that WOULD have allowed the three bills —GENIUS, CLARITY, and Anti-CBDC—to move forward for deliberation on Tuesday. The motion was defeated by a vote of 196 to 223, as several Republican members joined Democrats in voting against it.
The US Senate passed the GENIUS Act in June, aiming to regulate stablecoin issuers in the US and help establish a legal framework that could enhance their legitimacy and facilitate wider adoption.
In addition to the GENIUS Act, the House lawmakers will also discuss the CLARITY bill and the Anti-CBDC Surveillance State Act, all in the same week, “Crypto Week,” boosting expectations that crypto regulations will reach President Trump’s desk before the August recess.
