U.S. Home Ditching Its Stablecoin Expense to Back Trump’s Choice Throughout ‘Crypto Week’
The U.S. House is making a significant move by abandoning its Stablecoin Openness and Responsibility for a Better Journal Economy (STABLE) Act to support President Trump’s choice during what lawmakers are calling ‘Crypto Week.’ This shift comes as part of a broader legislative push to bring new regulations to the crypto sector this summer. If the Senate’s stablecoin bill reaches a floor vote next week, it could mark a pivotal moment in Trump’s agenda, with the potential for half of his goals for the sector to be realized.
One of the key pieces of legislation under consideration is the Digital Asset Market Clarity Act, aimed at establishing the first federal guidelines to regulate the expansive U.S. crypto markets. This act will take center stage during a Senate hearing on Wednesday, following the recent success of the Senate in passing the stablecoin bill, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.
Notably, the House has decided to move forward with the Senate bill without attempting to reconcile it with its own STABLE Act. This strategic decision aligns with the momentum set by Trump and the Senate, signaling a shift in priorities for the House in regulating the crypto space. If the House votes in favor of the GENIUS Act, it will progress to Trump’s desk for final approval, becoming a landmark legislation in U.S. crypto regulation.
Despite initial suggestions of potential collaboration between the House and the Senate to find common ground, the political landscape is evolving rapidly. Representative French Hill’s earlier remarks about reconciling differences between the bills now seem outdated as the House gears up to support the GENIUS Act, positioning it as a significant legislative win for Trump.
Clarity Amidst Progress
The potential advancement of the GENIUS Act marks a crucial step towards Trump achieving another major legislative milestone, following recent successes in advancing his policy agenda. This legislative push reflects a broader effort to bring transparency and accountability to the crypto sector, setting the stage for further regulatory developments.
