Trump demanded to "urgently" approve the stablecoin bill

US President Donald Trump urged the House of Representatives to “urgently” approve the stablecoin bill. Prior to this, he stated that he wanted to receive the document for signing by August 2025.

The bill “Guiding and Establishing National Innovation for U.S. Stablecoins” (GENIUS Act) is about. It establishes a regulatory framework for the stablecoin sector and sets requirements for their issuers, including those related to reserves.

On June 17, 2025, the U.S. Senate finally approved it. Now the initiative must receive support from both chambers before it reaches the president’s desk.

The situation is complicated by the fact that the House of Representatives Financial Services Committee has advanced its own bill on stablecoins – “Stablecoin Transparency and Accountability for a Better Ledger Economy” (STABLE). Previously, experts assumed that the final document would “absorb” elements from both initiatives.

In March 2025, Trump stated that he would like to receive a ready-made bill for signature by August 2025.

Finance professor at Georgetown University James J. Angel noted in an authored piece for CoinDesk that both bills have certain shortcomings. Among them are: a ban on stablecoins that allow interest payments to holders and the uncertain status of the regulator.

He believes that oversight should be carried out by the Federal Reserve System. The expert also suggested that legislators will ultimately adopt some hybrid version of the document — STABLE GENIUS Act. At the same time, according to him, haste in this matter is inappropriate, as the regulatory framework will turn out to be ineffective and full of “gaps”.

ACT3.2%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)