GENIUS Act Gains Momentum: Trump’s Support Fuels Progress in Regulating US Stablecoins

A new bill aiming to regulate stablecoins in the United States, known as the GENIUS Act, is gaining traction on Capitol Hill and could pass before the end of next week. This legislation has garnered bipartisan support from Senators Kirsten Gillibrand and Cynthia Lummis, who introduced it in March 2024. President Donald Trump has also tied this bill to his broader economic ambitions for the US in the digital space.