Trump Pushes for GENIUS Stablecoin Bill as USDT Market Shows Bullish Momentum
In a significant development for the cryptocurrency market, U.S. President Donald Trump has urged the House of Representatives to swiftly pass the GENIUS Act without amendments. This comes after the bill received bipartisan approval in the Senate, marking a pivotal step towards establishing a regulatory framework for dollar-pegged stablecoins. The GENIUS Act mandates 1:1 reserve backing and introduces stringent audit requirements for large issuers, aiming to enhance transparency and stability in the stablecoin market. The market has responded positively to this news, with bullish trends observed, particularly for major stablecoins like USDT. As of June 2025, this legislative progress is seen as a catalyst for further adoption and trust in stablecoins, reinforcing their role in the broader financial ecosystem. The immediate market reaction underscores the growing confidence among investors and stakeholders in the regulatory clarity provided by the GENIUS Act.
Trump Urges Swift Passage of GENIUS Stablecoin Bill as Market Responds Positively
U.S. President Donald TRUMP has intensified pressure on the House of Representatives to pass the GENIUS Act without amendments, following the bill's bipartisan approval in the Senate. The legislation establishes a regulatory framework for dollar-pegged stablecoins, mandating 1:1 reserve backing and introducing audit requirements for large issuers.
Market reaction has been immediate and bullish. Circle's stock surged 30% post-Senate approval, while Tether minted 1 billion USDT and Ripple issued 10 million RLUSD following the bill's advancement. Trump framed the legislation as critical for U.S. dominance in digital finance, declaring "Digital Assets are the future" in a Truth Social post.
The GENIUS Act sets clear parameters for foreign stablecoin issuers and requires annual audits for entities with market capitalizations exceeding $50 billion. This regulatory clarity comes as the stablecoin market shows increasing institutional interest, with the bill's passage potentially accelerating mainstream adoption.
Trump Touts Stablecoin Bill as Catalyst for $2 Trillion Crypto Market Surge
Donald Trump has intensified his pro-crypto stance, hailing the Senate's proposed stablecoin legislation as a potential watershed moment for digital assets. The GENIUS Act, which establishes regulatory frameworks for dollar-pegged tokens like USDT and USDC, could unlock institutional capital that's been sidelined by regulatory uncertainty. "Digital assets are the future," Trump declared, demanding immediate action on the bill.
Bitcoin's rally past $110,000 appears increasingly deliberate, fueled by converging factors: record ETF inflows, staking innovations, and now political tailwinds. Market analysts note Trump's endorsement carries particular weight with retail investors, who view him as a crypto ally. The regulatory clarity around stablecoin reserves and transparency may finally persuade risk-averse institutions to enter the market at scale.
Sanctioned Russian Exchange Garantex Continues Crypto Operations Despite US Crackdown
Blockchain data reveals Garantex, a sanctioned Russian cryptocurrency exchange, continues moving millions in digital assets despite recent US-led enforcement actions. While $26 million in Tether (USDT) was frozen in March, analytics firm Global Ledger identified over $15 million in active reserves across ethereum (ETH), Bitcoin (BTC), and BNB Chain networks.
The exchange's Ethereum wallet suddenly reactivated on March 6 - the same day Garantex acknowledged the sanctions - aggregating 3,265 ETH ($8.6 million). Subsequent transactions between May 22 and June 4 suggest funds are being systematically moved, indicating potential laundering activity.
Garantex's exposure extends beyond USDT to include various tokens including ERC-20, BEP-20 standards and A7A5, a ruble-pegged stablecoin. The enforcement action, coordinated with Germany and Finland, appears to have only partially disrupted the exchange's operations.
