Trump’s Endorsement Ignites GENIUS Act Revival – House Backing Secured

Washington shakes as the GENIUS Act gets a surprise second wind.

Trump flexes political muscle to rally House support

The legislative Lazarus effect—how a dead bill finds new life in election season. Watch as lawmakers suddenly remember how to work across the aisle when there's donor money at stake.

Because nothing motivates progress like the fear of losing reelection funds.

TLDR

• President Donald Trump secured support from 11 key House Republicans to advance the GENIUS Act.
• The GENIUS Act had stalled after a failed procedural vote in the House earlier this month.
• A new vote on the GENIUS Act is scheduled for 12:20 PM on July 15 according to the House calendar.
• The GENIUS Act proposes a federal framework for regulating dollar-pegged stablecoins and grants oversight to the Treasury.
• The bill passed the Senate with bipartisan support but faced internal disagreements among House Republicans.

Momentum returned to the GENIUS Act after new support emerged from key House Republicans. President Donald TRUMP secured backing from previously hesitant lawmakers, revitalizing the stalled legislation. This shift follows a failed procedural vote that temporarily blocked progress on crypto-related bills.

Trump met with members of Congress who had opposed moving the GENIUS Act forward. He announced their support for a new vote scheduled shortly. Speaker Mike Johnson participated in the meeting by phone and endorsed immediate action on the bill.

The GENIUS Act, which creates a federal framework for dollar-pegged stablecoins, passed the Senate last month. However, internal disputes disrupted progress, so lawmakers now aim to advance it through the House. Majority Leader Steve Scalise confirmed the next vote is set for 12:20 PM on July 15.

Lawmaker Shift Boosts GENIUS Act Prospects

House Republicans previously blocked the GENIUS Act by voting down a crucial rule that tied it to defense spending. The vote failed 196-222, reflecting division among GOP members concerned about combining crypto and national security issues. Members of the House Freedom Caucus led the opposition.

Trump’s direct engagement shifted the stance of 11 of the 12 members needed for the vote to pass. Their agreement increases the likelihood that the procedural hurdle will be cleared. If successful, the full House can proceed with debate and a final vote.

The GENIUS Act proposes that private companies may issue stablecoins under new federal rules. It gives oversight authority to the U.S. Treasury Department, aiming to create consistency in digital dollar markets. Some lawmakers expressed concern, but the bill has bipartisan support overall.

Bitcoin Price Climbs Amid GENIUS Act Revival

Bitcoin responded to the legislative developments, showing sensitivity to crypto policy movements in Washington. The price initially dropped from its all-time high after the failed vote earlier in July. However, Bitcoin rebounded to $117,000 as momentum returned to the GENIUS Act.

The market had reached $123,260 before the setback, driven by anticipation around Crypto Week and regulatory clarity. Following the failed vote, Bitcoin briefly declined to $115,735 before recovering. The renewed Optimism has since helped stabilize trading levels.

Traders view the GENIUS Act as a potential regulatory breakthrough that could bring certainty to the crypto space. Legislative progress often influences crypto sentiment, and investors monitor developments closely. The GENIUS Act’s advancement may continue to support bullish market conditions.

Ongoing Opposition Highlights Remaining Risks

Despite gains, divisions persist within the House regarding the GENIUS Act and its broader implications. Representative Marjorie Taylor Greene criticized the bill for lacking strong safeguards against a central bank digital currency. She argued it could open the door to government-controlled digital assets.

Some Democrats also raised questions about potential conflicts tied to Trump’s crypto positions. They voiced concerns about transparency and regulatory priorities. However, most remain aligned with passing a framework for stablecoins.

If the upcoming vote passes, the GENIUS Act may proceed toward final passage and become law. Supporters aim to finalize legislation that enables innovation while ensuring accountability. Crypto markets and stakeholders await the next steps in the process.