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Trump wants GENIUS Act 'ASAP'🖋️
Donald Trump urged lawmakers to pass the stablecoin legislation quickly, as Treasury Secretary Scott Bessent dismissed the idea that crypto could be a "threat to the dollar."
Stephen Graves
June 19, 2025
📝 What you need to know
With the GENIUS Act having passed the U.S. Senate, President Donald Trump took to social media Wednesday to urge the House to pass the landmark stablecoin bill. “Get it to my desk, ASAP — NO DELAYS, NO ADD ONS,” Trump posted on Truth Social.
U.S. Treasury Secretary Scott Bessent threw his weight behind the effort to fast-track the legislation, tweeting that stablecoins “can reinforce dollar supremacy” and dismissing the idea that crypto can act as a “threat to the dollar.”
The promise of legislation and guardrails for stablecoins has spurred interest in the sector, with the likes of Walmart, Amazon, and Bank of America reportedly making moves into the market. Just today, stablecoin-optimized Bitcoin sidechain Plasma told Decrypt that “dozens” of traditional companies have made contact to discuss their stablecoin plans, as it gears up for its mainnet launch in “late Summer.”
📊 Myriad Market of the Day
💬 Quote of the Day
“The House will hopefully move LIGHTNING FAST, and pass a “clean” GENIUS Act. Get it to my desk, ASAP — NO DELAYS, NO ADD ONS.”
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