The White House is urging Senate leaders to bring Senator Bill Hagerty’s stablecoin bill, the GENIUS Act, up for debate in the Senate next month.
Legislation aimed at creating a regulatory framework for stablecoin payments recently passed the Senate Banking Committee by a vote of 18-6, making significant progress in defining clear rules for digital assets.
Majority Leader John Thune is expected to schedule the bill for consideration in the Senate. But before it can become law, the GENIUS Act must also pass the House of Representatives, where it will be concurred with the House’s version of stablecoin legislation, the STABLE Act. Sponsored by Reps. French Hill and Bryan Steil, the STABLE Act is set to be heard in the House Financial Services Committee on April 2.
The White House hopes strong Senate support will streamline the legislative process and avoid a lengthy conference committee process.
“Pressure is already building to pass the bill quickly and avoid a conference if possible,” one crypto lobbyist told Crypto In America. “If GENIUS gets 70 votes, there will be huge pressure on the House to back down and pass the bill as is. That pressure is already building.”
Despite the urgency, it remains unclear whether the House of Representatives will abandon its version of the bill in favor of the Senate. Bo Hines, executive director of the Presidential Task Force on Digital Assets, expressed optimism about the bill’s timeline, noting that stablecoin legislation could reach President Trump’s desk within two months.
*This is not investment advice.
