- Trump Set for First Major Crypto Policy Win with Stablecoin Bill as House Vote Nears Final Stage.
- The bill defines who can issue stablecoins and what reserves they must hold to operate legally.
- French Hill introduced a separate crypto bill to define rules for other digital asset classes.
A new chapter in U.S. crypto regulation could begin next week as the House prepares to vote on the GENIUS Act—a bill that would set the country’s first official rules for stablecoins. After clearing the Senate with bipartisan support, the bill is now heading for a final vote. If passed, it will go straight to President Donald Trump’s desk, putting him in a position to claim his first legislative win on cryptocurrency since returning to office.
Trump’s Stablecoin Push Gains Momentum as House Prepares Vote
Stablecoins may soon come under federal oversight through the GENIUS Act. The bill would establish a clear regulatory framework, defining who can issue stablecoins, the assets required to back them, and how they will be monitored. Supporters believe this structure could encourage more banks and financial technology firms to engage with stablecoins, helping the sector grow under defined legal standards.
President Donald Trump has urged lawmakers to pass the bill as a stand-alone measure, without attaching it to broader crypto legislation. That strategy has gained traction, with the House expected to vote in the coming week. The bill’s passage would offer regulatory support for companies like World Liberty, giving their products more legitimacy and possibly shaping the future of the U.S. crypto market.
More Crypto Bills in the Pipeline
As the GENIUS Act moves toward a final House vote, lawmakers are also preparing to consider broader digital asset legislation. Representative French Hill, who chairs the House Financial Services Committee, has introduced a separate proposal aimed at setting clear rules for regulating various crypto assets.
This bill seeks to define whether a digital token should be treated as a security or a commodity—an issue that has created confusion and legal uncertainty across the industry. Hill’s bill also includes proposed updates to the GENIUS Act, despite the stablecoin measure already passing the Senate.
These updates involve revised accounting standards for stablecoin issuers, permission for commodity-backed stablecoins, and extended requirements for private companies aiming to issue their digital tokens. While these changes will not impact the version of the GENIUS Act currently under consideration, lawmakers may revisit them in future legislation.
The House Rules Committee is scheduled to review Hill’s proposal on Monday, which could move it to a vote shortly after. However, this bill will follow a separate path from the GENIUS Act, which is now being treated as a standalone measure. Initially, House Republicans had hoped to bundle several crypto bills together into one legislative package to push the Senate to act on all of them at once.
However, that approach shifted after Senate Republicans, with backing from President Trump, encouraged lawmakers to focus solely on the GENIUS Act to increase its chances of passage. That strategy proved effective, and the effort to combine the bills was dropped.
With the House now focused on passing the stablecoin bill quickly, Senate leaders say they will revisit the broader market structure proposal in September. This delay leaves the door open for more debate on how cryptocurrencies and digital assets should be regulated across different sectors of the economy.
Related: House GOP Schedules Crypto Week to Push Three Digital Bills
Crypto Industry Eyes Next Week’s Vote
For the crypto industry, the GENIUS Act represents more than new rules—it’s a signal that Washington is finally ready to engage with digital assets. The bill would bring stablecoins under federal supervision, requiring clear reserves and oversight, which many believe will attract larger financial players.
Crypto firms have long argued that the lack of precise U.S. regulation has held back innovation. The upcoming House vote could change that. With the Senate already on board and Trump ready to sign, the GENIUS Act may soon become the law that gives stablecoins—and the broader crypto sector—the green light to grow in the U.S. market.
