U.S. President Donald Trump called for the swift passage of the GENIUS stablecoin bill through the House of Representatives.
In a statement shared via social media, President Trump emphasized the necessity for immediate approval of the GENIUS Act, without any delays or amendments. He previously set August as the deadline for the completion of stablecoin legislation.
The bill requires dollar-pegged cryptocurrencies to be fully backed by liquid assets and imposes annual audits for issuers exceeding a market capitalization of $50 billion. However, the presence of the House's own STABLE Act could complicate or delay the swift approval Trump seeks.
Highlighting the strategic significance of digital assets, Trump stated that passing this legislation would secure America's leadership in the digital economy.
