President Trump kicked off the beginning of “crypto week” with a call for the passage of a significant piece of legislation. The agenda for the U.S. House of Representatives during the so-called “crypto week” includes multiple bills focused on digital currency. In a post on Truth Social, President Trump urged support among GOP lawmakers for the GENIUS Act.
“HAPPY CRYPTO WEEK! The House will soon VOTE on a tremendous Bill to Make America the UNDISPUTED, NUMBER ONE LEADER in Digital Assets – Nobody does it better!” Trump said.
The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act was passed by the Senate on Tuesday. The legislation establishes a framework for federal regulation of digital assets.
The bill received major support from Sen. Tim Scott, R-S.C., who has been an ally of President Trump. Sen. Scott characterized the bill as one that would democratize the digital asset market and ensure that advancing technology works to lower costs for Americans.
President Trump echoed Sen. Scott’s support of the bill and noted that it would set the United States ahead of competing countries in the development of a digital asset marketplace.
“The GENIUS Act is going to put our Great Nation lightyears ahead of China, Europe, and all others, who are trying endlessly to catch up, but they just can’t do it,” Trump said. “Digital Assets are the FUTURE, and we are leading by a lot! Get the first Vote done this afternoon (ALL REPUBLICANS SHOULD VOTE YES!).”
A procedural vote for the GENIUS Act was delayed on Tuesday after members of the House Freedom Caucus objected to the Senate version of the bill. The House is expected to vote again on the matter on Wednesday, along with a vote on the Digital Asset Markets Clarity Act. Trump indicated his support for both measures and signaled that digital assets would remain an important issue in his administration’s legislative agenda.
“This is our moment – Digital Assets, GENIUS, Clarity! It is all part of Making America Great Again, BIGGER AND BETTER THAN EVER BEFORE,” Trump said. “We are leading the World, and will work hard with the Senate and the House to get even more Legislation on this passed.”
