Trump Is About to Achieve His First Major Victory in Cryptocurrency Policy

Next week, President Donald Trump may achieve his first landmark legislative victory in cryptocurrency policy as House Republicans pass a bill approved by the Senate aimed at establishing official guidelines for stablecoins. According to Politico, lawmakers in the House will vote early next week on the Senate's "GENIUS Act." This move will introduce the country's first regulatory framework for stablecoins, a type of digital token pegged to the dollar. The bill received bipartisan approval in the Senate last month and is likely to be the first cryptocurrency law passed by Congress. If the president signs this measure, the cryptocurrency industry could receive a significant boost after years of seeking wider acceptance. Supporters argue that clear federal delegation and a purpose-built framework for stablecoins will drive wider adoption and encourage mainstream financial institutions to explore digital assets. The new law could also benefit the president's family as last year, his sons launched a stablecoin issuance project. Along with the stablecoin legislation, the House also plans to vote next week on a comprehensive amendment to the cryptocurrency oversight regulations, which will divide responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission. A third proposal to ban any type of central bank digital currency in the United States will also be brought up for discussion. The House has ended its efforts to consolidate cryptocurrency bills. The House Rules Committee will meet on Monday at 4 PM to review all three measures, potentially paving the way for a vote in the House on Tuesday. These votes will end the Republican effort in the House to combine all three cryptocurrency bills into a package to pressure the Senate. Instead, the Senate Republicans, backed by Trump, publicly campaigned for and successfully passed the standalone GENIUS Act. Republican leaders in the Senate have pledged to address the independent market structure bill in September. Previously, President Trump proudly declared that cryptocurrency had "surged" under his leadership, while suggesting that his tariff strategy and economic agenda had fueled the price increase of digital assets. While House leaders intend to send the Senate's stablecoin bill to the president unchanged, they continue to push for adjustments. The revised draft of the proposal for a broader market structure, announced by House Financial Services Chairman French Hill on Thursday, includes an amendment to the GENIUS Act. The proposed adjustments include updated accounting protocols, rights for commodity-backed stablecoins, and tighter issuance oversight, requiring both private and public non-financial institutions to obtain approval from a designated review committee before launching a stablecoin.