- Trump’s efforts propel GENIUS Act in Congress.
- Bitcoin surpasses $119,000 amid legislative progress.
- Market optimism rises, reflecting institutional interest.
The GENIUS Act, formally known as the Guiding and Establishing National Innovation for U.S. Stablecoins of 2025, is back on track as President Trump has actively garnered support from previously opposing GOP members. The bill was initially introduced in the Senate and has moved to the House with presidential backing. Major stablecoin issuers like Circle and exchanges such as Coinbase are significantly affected. Trump stated, “I convinced Republicans who voted with Democrats in blocking the bill to reverse their position.” The act has also ignited opposition, with Representative Marjorie Taylor Greene publicly voicing her disapproval.
Bitcoin (BTC) exceeded $119,000 following the legislative progress, evidencing the market’s favorable reaction. Stocks of crypto firms including Circle and Coinbase saw positive movements, indicating investor optimism and increased institutional sentiment. The GENIUS Act aligns with other noteworthy initiatives, notably the CLARITY Act and Anti-CBDC Surveillance State Act, providing a conducive regulatory environment. The bill calls for strict reserve requirements and monthly disclosures, with stablecoins being key beneficiaries.
The move may lead to increased capital flow into U.S. stablecoin markets, aligning with institutional participation and fostering a regulated environment. Data suggests potential surges in trading volumes, indicating heightened liquidity. Crypto sectors could experience growth, contingent upon sustained legislative backing and market receptivity. Financial effects are amplified by rising prices of major cryptocurrencies, reflecting a potential long-term trend reversal.
