digital asset bill Archives - Coin Engineer https://coinengineer.net/blog/tag/digital-asset-bill/ Btc, Coins, Pre-Sale, DeFi, NFT Thu, 19 Jun 2025 06:52:32 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png digital asset bill Archives - Coin Engineer https://coinengineer.net/blog/tag/digital-asset-bill/ 32 32 Trump Urges Fast Track For GENIUS Bill: ‘Get It To My Desk, ASAP’ https://coinengineer.net/blog/trump-urges-fast-track-for-genius-bill-get-it-to-my-desk-asap/ https://coinengineer.net/blog/trump-urges-fast-track-for-genius-bill-get-it-to-my-desk-asap/#respond Thu, 19 Jun 2025 08:00:05 +0000 https://coinengineer.net/blog/?p=44641 Momentum is building in the U.S. crypto regulatory space as President Trump calls on the House to pass the GENIUS Act without delay. The legislation promises to solidify the country’s position as a global leader in digital assets, especially in the stablecoin sector. Trump: “NO DELAYS, NO ADD ONS” After the Senate passed the GENIUS

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]]> Momentum is building in the U.S. crypto regulatory space as President Trump calls on the House to pass the GENIUS Act without delay. The legislation promises to solidify the country’s position as a global leader in digital assets, especially in the stablecoin sector.

Trump: “NO DELAYS, NO ADD ONS”

After the Senate passed the GENIUS (Guiding and Establishing National Innovation for US Stablecoins) Act with a 68–30 vote, Trump posted on Truth Social urging quick House approval.

“The Senate just passed an incredible Bill that is going to make America the UNDISPUTED Leader in Digital Assets,” he wrote. “Get it to my desk, ASAP — NO DELAYS, NO ADD ONS.”

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With a narrow Republican majority in the House, the final vote is pending — but all eyes are on how swiftly it can reach Trump for final approval.

genius, trump

What Does The Bill Include?

The GENIUS Act aims to establish a clear regulatory framework for stablecoins, including:

  • Mandatory 1:1 reserve backing
  • State or federal-level licensing
  • Anti-Money Laundering compliance
  • Strict consumer protections
  • Limits on how reserves can be used (e.g., only for redemptions or low-risk Treasury investments)

These measures are designed to eliminate shadow banking risks and enhance systemic trust in dollar-backed stablecoins.

Controversy Still Looms

Although now progressing, the bill had previously failed a cloture vote in May due to Democratic concerns. Critics like Senator Elizabeth Warren accused Trump and his family of positioning to earn “hundreds of millions” from a proposed USD1 stablecoin if the law passes. Others warned against falling behind globally in crypto adoption and innovation.

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