Trump signs support for GENIUS Act crypto bill

Donald Trump endorses the GENIUS Act as a major step for U.S. cryptocurrency leadership.

Trump supports cryptocurrency bill during Crypto Week

On Tuesday, President Donald Trump called for Republicans to support the GENIUS Act, a key cryptocurrency bill intended to position the United States as a leader in digital assets. In a post on Truth Social, Trump declared, "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!" He claimed the bill would advance U.S. technology and regulatory leadership over other regions like China and Europe. The GENIUS Act aims to clarify federal regulation surrounding cryptocurrencies, with provisions that address token classifications and stablecoin frameworks. The vote on this bill comes during a week highlighting legislative activity related to cryptocurrency legislation.

Trump's assertion of support for the GENIUS Act marks a significant shift in U.S. policy towards cryptocurrencies, contrasting with previous administrations that adopted a more cautious stance. His enthusiastic endorsement, which includes promises of U.S. dominance in digital assets, may influence Republican lawmakers and signal a broader acceptance of cryptocurrencies among mainstream politics. If passed, this legislation could lay the groundwork for a new era in the regulatory landscape of digital currencies.

Highlights

This legislative push reflects how cryptocurrency is becoming an important political issue.