Meanwhile, the move by Congress to pass the stablecoin legislation without attaching another piece of payments legislation, the Credit Card Competition Act, deals a blow to the chances for passage of the CCCA in the current Congress, observers say. “The avenues for CCCA are dwindling and it continues to face an uphill battle,” Talbott says.

The cryptocurrency industry spent more than $250 million in the last election to help crypto-friendly candidates run for Congress and the White House.

The GENIUS Act is likely to be signed into law on Friday and is set to change how stablecoin issuers operate both in the US and overseas.

U.S. stablecoin regulation ensuring consumer protection, financial stability, and global financial influence. Learn about issuer requirements, reserve rules, and its impact on international transactions.

Backers of the Genius Act, a potentially landmark bill that could help "stablecoins" go mainstream, say it would greatly speed electronic payments.

The U.S. House of Representatives passed the Genius Act, creating a regulatory framework for stablecoins, and sent it to President Trump for approval. This development boosts the digital asset industry by promising regulatory clarity and consumer protection while reinforcing U.

Labs, has hailed the passage of the GENIUS Act as a “transformational legislation” that marks a historic turning point for the U.S. financial sector, drawing parallels to the Dodd-Frank Act of 2010.

On Monday, Republican leaders in the House of Representatives kicked off what they’re calling “Crypto Week”—a concerted effort to make America the cryptocurrency capital of the world by advancing three key pieces of crypto-related legislation.

Cryptocurrency has gained a hold in Americans’ investment portfolios and their retirement accounts — and now it’s a step closer to their wallets for everyday use.