The White House is actively pushing the GENIUS Act stablecoin bill to the Senate.
Advancement of the GENIUS Act
The White House is urging Senate leaders to bring the stablecoin bill, known as the GENIUS Act, up for debate in the Senate next month. The legislation, aimed at creating a regulatory framework for stablecoin payments, recently passed the Senate Banking Committee by a vote of 18-6.
Legislative Process in Congress
Majority Leader John Thune is expected to schedule the bill for consideration in the Senate. However, for it to become law, the GENIUS Act must also pass the House of Representatives, where it will be considered alongside the House’s version, the STABLE Act, sponsored by Reps. French Hill and Bryan Steil and set to be heard in the House Financial Services Committee on April 2.
Expectations and Challenges
Despite the urgency, it remains unclear whether the House of Representatives will abandon its version of the bill in favor of the Senate. Bo Hines, executive director of the Presidential Task Force on Digital Assets, expressed optimism about the bill’s timeline, noting that stablecoin legislation could reach President Trump’s desk within two months.
The GENIUS Act stablecoin bill receives strong Senate support and could play a crucial role in shaping digital asset regulations in the US.
