U.S. House Approves GENIUS Act, Paving Way for Federal Stablecoin Regulation

The U.S. House of Representatives has passed the GENIUS Act with overwhelming bipartisan support, voting 308-122 to establish the first federal regulatory framework for stablecoins. The bill mandates 1:1 cash or liquid asset backing for all dollar-pegged tokens, requiring issuers to publicly disclose reserves—a direct response to the Terra collapse and mounting calls for transparency.

President Trump is set to sign the legislation at a historic White House ceremony on July 18, with crypto industry leaders and lawmakers in attendance. The move comes as part of a broader Republican-led crypto legislative push, including the CLARITY Act for CFTC market oversight and an Anti-CBDC bill blocking Fed digital dollar development.

Market participants view this as a watershed moment for USD-backed stablecoins, potentially accelerating institutional adoption while mitigating systemic risks. The regulatory clarity could trigger renewed capital inflows into crypto markets, particularly for compliant stablecoin-related projects and infrastructure plays.