Trump Brokers Deal to Advance Crypto Legislation, GENIUS Act Nears House Vote
Former US President Donald Trump has intervened to revive stalled cryptocurrency legislation in the House of Representatives. Eleven of twelve key representatives have agreed to support the GENIUS Act, which establishes a regulatory framework for stablecoins.
The breakthrough follows Tuesday's 196-222 vote that temporarily blocked consideration of several crypto-related bills. A full House vote on the GENIUS Act could occur as early as Wednesday, marking a significant development during the legislature's designated "Crypto Week."
"I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act," TRUMP announced on Truth Social. The bill's progress signals growing political recognition of digital assets' importance in the US financial landscape.
