Trump Poised for His First Major Legislative Victory on Cryptocurrency Policy Next Week

According to Jinse Finance, Trump is expected to achieve his first major legislative victory in cryptocurrency policy next week. House Republicans are preparing to pass a bill previously submitted by the Senate to establish new regulatory rules for stablecoins. The U.S. House of Representatives is expected to vote early next week on the Senate's proposed GENIUS Act, which aims to create the first U.S. regulatory framework for so-called stablecoins pegged to the U.S. dollar. The bill passed the Senate last month with bipartisan support and is poised to become the first major cryptocurrency regulatory measure adopted by the U.S. Congress. Trump's signing of this stablecoin bill could provide a significant boost to the crypto industry, which has long struggled to enter the mainstream. Cryptocurrency supporters hope that government endorsement, along with the customized regulatory framework they have lobbied Congress for over the years, will enhance the legitimacy of cryptocurrencies, promote adoption, and open the door for traditional financial institutions to further engage with digital assets. This legislation could also benefit the Trump family itself: his sons founded a company last year that issues stablecoins.