US House Passes GENIUS Act to Regulate Stablecoins, Awaits Trump Signature

The United States House of Representatives voted decisively on Thursday, July 17, 2025, to pass S. 1582, known as the GENIUS Act, with a strong bipartisan margin of 308–122. This landmark legislation establishes a national regulatory framework for stablecoins, marking a significant step toward federal oversight of the growing crypto sector. Having already cleared the Senate last month, the bill now awaits President Donald Trump’s signature, with the White House scheduling a signing ceremony as early as Friday. The passage of this bill signals a transformative moment for the U.S. crypto industry, aiming to position the country as a global leader in digital asset innovation.

The GENIUS Act, co-sponsored by Senate Banking Committee Chairman Tim Scott and led in the Senate by Sen. Bill Hagerty, addresses the $264 billion stablecoin market by providing clear regulatory guidelines for issuers, investors, and regulators. The legislation seeks to foster innovation while ensuring consumer protection and market stability. White House Press Secretary Karoline Leavitt emphasized the bill’s significance, stating that a signing ceremony is planned for Friday afternoon, reflecting President Trump’s commitment to making America the “crypto capital of the world.”

A Historic Step for Crypto Regulation

The passage of the GENIUS Act represents the first time both chambers of Congress have approved bipartisan legislation targeting digital assets, a milestone celebrated by lawmakers and industry leaders. Sen. Scott described the vote as a historic moment, highlighting its role in providing clarity to a sector long plagued by regulatory uncertainty. The bill establishes guardrails to ensure stablecoin issuers operate within a structured framework, addressing concerns about transparency and financial stability. This development comes on the heels of the House advancing a trio of crypto related bills, including the GENIUS Act, the Clarity Act, and the Anti-CBDC Surveillance Act, as part of Crypto Week, which is a week long push to move forward crypto regulations.

The Clarity Act, which passed the House with a 294–134 vote, aims to delineate jurisdictional boundaries between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in regulating crypto assets. Now headed to the Senate, the Clarity Act faces a more contentious path due to partisan debates and concerns over President Trump’s ties to the crypto industry. However, the momentum from the GENIUS Act’s passage has fueled optimism among lawmakers like Scott, who see it as a model for future cooperation on digital asset legislation. He emphasized that blockchain technology and digital assets are integral to the future of finance, urging regulators to adapt to this reality.

As the GENIUS Act heads to President Trump’s desk, attention now turns to the Senate’s consideration of the Clarity Act and the broader implications for the crypto industry. While challenges remain, including concerns about regulatory overreach and conflicts of interest, the passage of the GENIUS Act marks a pivotal moment in establishing the U.S. as a leader in digital asset regulation. With the signing ceremony set for Friday, the crypto community awaits the formal enactment of a law that could reshape the future of stablecoins and solidify America’s position in the global crypto economy.