GENIUS Act Advances After Trump Secures GOP Support
The House has narrowly approved the GENIUS, CLARITY, and Anti-CBDC bills, reversing an earlier rejection. This means the GENIUS Act can now be debated and voted on by the full House, potentially later this week.
However, Democratic support has seemingly diminished, which could pose challenges in the future.
House Moves Forward with GENIUS Act
The rule passed with a vote of 215–211, a turnaround from Monday’s 196–222 defeat. All 215 “yea” votes came from Republicans, while all Democrats voted “no.”
This shift occurred after former President Donald Trump met with 11 of the 12 GOP holdouts, securing their backing.
This clears the path for floor debate and possible final votes on the crypto bills this week.
The GENIUS Act aims to create a federal framework for stablecoins. The Clarity Act seeks to define the oversight boundaries between the SEC and CFTC. The Anti-CBDC bill would block any Federal Reserve effort to issue a central bank digital currency.
House Majority Leader Steve Scalise warned that delaying GENIUS could disrupt alignment with the Senate and President Trump, both of whom support the bill.
Next Steps for the GENIUS Act
The final step is the House Floor Vote, expected within 1–2 days, possibly before the week ends. If passed with a simple majority, it goes to the President.
President Trump has publicly supported the GENIUS Act and is likely to sign it into law quickly once it passes the House.
With this vote, the path to major U.S. crypto regulation may be closer than ever.