On July 17, the U.S. House of Representatives passed a landmark bill, the Genius Act, to establish a federal regulatory framework for U.S.-dollar-pegged stablecoins. The bipartisan bill aims to ensure stablecoins are backed by liquid assets such as U.S. dollars and Treasury bills, and requires issuers to publicly disclose their reserves monthly. A separate bill, the Clarity Act, focused on broader crypto market structure, also passed and moves to the Senate for review. The digital asset industry has long pushed for clear regulations and invested over $119 million in pro-crypto candidates to influence policy. The House passed a similar bill last year, but it stalled in the Senate. President Donald Trump, expected to sign the bill into law, has deepened his involvement with crypto through ventures like the $TRUMP meme coin. Despite ethical concerns, the White House states Trump’s crypto interests are managed through a trust by his children.
#geniusact #clarityact #stablecoins #cryptoregulation #uscrypto #digitalassets #trumpcrypto #uscongress #blockchainlaw #cryptoindustry #memecoin #cryptoethics #financialregulation #usdpegged #crypto2025
Moneycontrol is India’s leading financial portal, offering market news, expert analysis, and powerful tools.
A part of Network18, moneycontrol.com is India’s most trusted destination for financial and business news.
Subscribe: https://bit.ly/moneycontrolyoutube
Follow us:
Visit https://www.moneycontrol.com/
Facebook: /moneycontrol
Twitter: /moneycontrolcom
Instagram: /moneycontrolcom
source