In a groundbreaking moment for the cryptocurrency industry, the U.S. House of Representatives has passed the GENIUS Act, a pivotal piece of legislation that establishes a comprehensive regulatory framework for stablecoins. The bill, which cleared the Senate in a bipartisan vote last month, now moves to the president’s desk for final approval.
The House vote was notably bipartisan, with 308 members in favor and 122 against. Among the supporters were 206 Republicans and 102 Democrats, signaling a rare moment of cross-party consensus on a complex issue that has long divided lawmakers and regulators alike.
The passage of the GENIUS Act marks a significant step forward in the United States’ approach to digital currencies. Stablecoins—cryptocurrencies pegged to traditional fiat currencies such as the U.S. dollar—have been viewed as a relatively secure form of digital asset. The new legislation aims to protect consumers, foster innovation, and provide legal clarity for businesses operating in this fast-growing sector.
Earlier in the week, the bill faced resistance from House Republicans, who temporarily stalled its progress alongside several other crypto-related measures. However, after a meeting with President Donald Trump at the White House, GOP lawmakers unified behind the legislation.
Following the vote, House Republicans took to social media to celebrate the bill’s success: “The GENIUS Act is headed to the President’s desk! House Republicans are protecting consumers and creating a regulatory framework for payment stablecoins. The United States will continue to be a world leader that drives innovation.”
The GENIUS Act sets stringent standards for cryptocurrency issuers, offering both structure and security in an industry often criticized for its volatility and lack of oversight. It also addresses concerns about large technology companies gaining excessive control over digital payment infrastructure, a point emphasized by early Democratic backers of the bill.
“The GENIUS Act creates a safer, more transparent crypto environment while limiting big tech overreach,” one Democratic senator stated during earlier debates.
In addition to the GENIUS Act, the House also approved another major piece of crypto legislation on Thursday. The CLARITY Act, which takes a broader approach to digital asset regulation, passed with a vote of 294-134 and will now move to the Senate for consideration. While Republicans initially attempted to bundle the two bills together, they ultimately chose to advance them separately to speed up the process.
