Senate Republicans and Trump are clashing with the House over cryptocurrency. The Senate recently passed the bipartisan GENIUS Act, creating the first regulatory framework for stablecoins, which passed 68–30. Trump wants a “clean” version signed quickly, but House Republicans are pushing for a broader overhaul of crypto regulations.
The bill would require stablecoins to be backed by liquid assets like U.S. dollars and Treasury bills, with issuers disclosing reserves monthly. If passed, it would mark a major milestone for the crypto industry, which spent over $100 million lobbying for regulation. The House is preparing a “crypto week” showdown before the bill heads to Trump’s desk.
