Trump pushes for rapid signing of the GENIUS Act

“The House of Representatives must act lightning-fast and pass a 'clean' GENIUS bill,” wrote Trump.

“The House of Representatives must act lightning-fast and pass a 'clean' GENIUS bill,” wrote Trump. His call follows broad approval in the American Senate, where Republicans and Democrats backed the “Guiding and Establishing National Innovation for U.S. Stablecoins Act.”

But it’s not a done deal yet. While analysts in the House also expect a majority, Democrats have doubts, especially about Trump’s own crypto ambitions. His involvement with WLFI, a DeFi project with its own stablecoin, raises eyebrows for some due to possible conflicts of interest.

Meanwhile, the U.S. government is looking at the bigger picture. Stablecoins are often backed by short-term Treasurys. More regulated stablecoins means more demand for those bonds, something the government and the market stand to benefit from. Lower borrowing costs, lower mortgage rates—that sounds like music to the ears of both voters and investors.

Who’s already profiting? Circle, the issuer of USDC. Their recent IPO was a resounding success and confirms traditional financial players’ appetite for regulated crypto exposure. And then there’s Coinbase (COIN). Not only does the platform take a solid revenue cut from Circle’s USDC operations, but their own Layer-2 network Base could become the new home for a wave of TradFi stablecoins.