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Senate-Passed Crypto Bill
Senate-Passed Crypto Bill
In a significant development for the digital finance world, former President Donald Trump has urged the House GOP to quickly approve the Senate-Passed Crypto Bill without any changes. This landmark legislation, known as the GENIUS Act, marks a major milestone in the U.S. government’s effort to establish a regulatory framework for stablecoins—digital tokens pegged to traditional currencies like the U.S. dollar.
The Senate-passed crypto bill, backed by bipartisan support, has already sparked optimism across financial markets and the broader cryptocurrency industry. Now, all eyes are on the House of Representatives, where lawmakers are weighing whether to adopt the bill as is or make substantial amendments.
On Wednesday night, Donald Trump took to Truth Social to demand the House pass a “clean” version of the Senate-Passed Crypto Bill without delays or additions. His message comes amid deliberations among House Republicans, who are considering including the measure in a broader crypto legislative package.
“Get it to my desk, ASAP — NO DELAYS, NO ADD ONS,” Trump emphasized, sending a clear message to Financial Services Committee Chair French Hill and other GOP leaders. Trump’s backing of the GENIUS Act reaffirms his support for positioning the U.S. as a global leader in digital asset regulation and innovation.
The Senate-Passed Crypto Bill, officially titled the GENIUS Act, aims to create the first-ever regulatory framework for stablecoins. These digital assets are designed to maintain a consistent value by being backed by fiat reserves like the U.S. dollar or short-term Treasury bills.
Key provisions of the bill include:
The bill passed the Senate with strong bipartisan support in a 68-30 vote, signaling a turning point in the ongoing debate over cryptocurrency regulation in the United States.
The Senate-Passed Crypto Bill is viewed as a pivotal piece of legislation for the crypto sector, which has long struggled with regulatory uncertainty. With clear rules now in sight, analysts believe the bill will help bring legitimacy, investor confidence, and significant capital inflows into the industry.
According to Sen. Bill Hagerty (R-Tenn.), the bill’s lead sponsor, “This legislation will cement U.S. dollar dominance, protect customers, and drive demand for U.S. treasuries.” He added that he hopes to see the bill signed into law before the Fourth of July.
News of the Senate-Passed Crypto Bill had an immediate impact on crypto-related stocks. Stablecoin issuer Circle saw its shares surge by 33.8%, while Coinbase gained 16% and Robinhood rose by 4.5%.
These gains reflect investor optimism that the legislation will increase adoption of stablecoins and drive revenue for companies operating in the digital asset infrastructure space. Brokerage firm Bernstein noted, “Once passed into law, we expect stablecoins to evolve from the money rail of crypto to the money rail of the internet.”
Despite broad support for stablecoin regulation, House Republicans are divided over how to proceed. Some lawmakers prefer packaging the Senate-Passed Crypto Bill with a broader market structure bill that would define oversight roles for various crypto assets. However, others worry that such a move could delay passage or complicate bipartisan cooperation.
Rep. French Hill has expressed his intent to work with House leadership to chart a path forward. While acknowledging the bill’s importance, he remains open to integrating it into a more comprehensive digital assets strategy.
Some GOP lawmakers fear that passing the Senate bill without modifications might derail the momentum needed to pass additional crypto reforms this year.
Although 18 Senate Democrats joined Republicans in passing the bill, not all are pleased with its content. Sen. Elizabeth Warren (D-Mass.) criticized the measure, warning that it could benefit Donald Trump’s financial interests while failing to adequately protect consumers or national security.
Warren specifically raised concerns about Trump’s ties to crypto companies, including World Liberty Financial, which reportedly earned him over $57 million last year. “This bill was written by the industry and will supercharge Trump’s crypto corruption,” she claimed.
The revised bill does include some ethical safeguards, such as a prohibition on senior government officials issuing stablecoins while in office. Still, critics argue that more robust consumer protections and anti-money laundering measures are needed.
The crypto industry has widely welcomed the Senate-Passed Crypto Bill. Circle CEO Jeremy Allaire declared the legislation a game-changer that would “drive U.S. economic and national competitiveness for decades.”
Industry analysts believe the GENIUS Act could unlock new growth in the $256 billion stablecoin market. With companies like Circle and Coinbase set to benefit, the bill could bring mainstream adoption closer than ever.
Andrew Rocco from Zacks Investment Research added, “The bill finally puts a regulatory framework around stablecoins, lending credibility and structure to a rapidly evolving sector.”
The GENIUS Act now heads to the Republican-controlled House, where its fate remains uncertain. If passed without amendments, it could be signed into law by Trump within weeks. If modified, however, it may return to the Senate for further deliberation.
With rising investor interest and mounting political pressure, the clock is ticking. Lawmakers are aiming for a summer passage, aligning the crypto sector’s biggest regulatory leap with one of the most consequential legislative periods in recent memory.
Read more: Summer Solstice 2025
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