US President Donald Trump has thrown his weight behind the Senate StableCoin calculation, referred to it as a “pure genius” and asked the house to pass it “at lightning speed”.
According to its social contribution to the truth, the Senate “has just passed an incredible bill”, which the United States will make a “undisputed leader in digital assets”. He left no space for optimizations or delays and insisted on “no delays, no add -on”.
Trump calls on a quick approval
Based on reports, Trump would like to “clean” a “clean” version of the guideline and the determination of the national innovation for US stable coins (Genius) Act to sail through the house.
He warned members such as Congressman French Hill of changing the Senate text or a larger crypto package. The Senate approved the invoice one day before his contribution and found a clear period: bring it to my desk “as soon as possible”.
House is faced with an important choice
Representatives weigh two ways. You can also approve the Senate’s draft law or bring cryptor rules together with a wider sentence. French Hill and other Republicans of the house supported a similar measure in April, but this version has important differences to reserve requirements and registration steps.
Some fear that an independent coordination could undermine the efforts to combat token securities, defi and Exchange oversight at once.
The Senate is looking for an early victory
Senator Bill Hagerty, the sponsor of the law, said reporters, he hoped to send the Genius Act to Trump before July 4th. He warned that the entire package, when the house adds a “market structure” conference, must return to a further review of the Senate.
Hairs of difficult conversations in the upper chamber secured just enough GOP support -and some democratic voices -to adopt the legislation under the 60 -controlled threshold.
Image: Mudrex
Competition with other jurisdiction
According to industry experts, clear US rules can help stable coin issuers such as Circle and Paxos to avoid a patchwork of state licenses. The EU, Singapore and Hong Kong are already designing its own framework. Without quick measures, these companies can move overseas and take banks and talents with them.
Based on reports of cryptopical groups, lobbyists have increased demands on the clarity of the federal government. Some warn that pieces can leave gaps in reserve tests or consumer protection. Others argue that a tight stablecoin law is better than none – and could pave the way for more comprehensive reforms later this year.
Selected picture of Unsplash, Diagram from Tradingview
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