The White House is urging Congress to expedite the passage of the GENIUS Act, a new piece of legislation focused on regulating payment stablecoins, Crypto in America reported. The administration reportedly wants the bill on President Donald Trump’s desk within the next two months.
Introduced by Senator Bill Hagerty, the GENIUS Act recently cleared a major hurdle after passing the Senate Banking Committee on March 13 with an 18-6 vote. The bill is now slated to head to the Senate floor for debate, with Majority Leader John Thune expected to steer its progression.
Momentum Builds Around GENIUS Act
If the bill garners significant bipartisan support — potentially reaching 70 votes — lawmakers may push to fast-track its final approval by bypassing a reconciliation process with the House’s competing STABLE Act. The White House has reportedly been consistent in voicing its commitment to stablecoin regulation, both during recent digital asset roundtables and at the Digital Asset Summit.
“This pressure is very real,” a crypto lobbyist told Crypto in America. “If GENIUS gets 70 votes, there’s going to be a lot of pressure for the House to stand down and pass it as is.”
Competing House Bill Faces Delays
Meanwhile, the STABLE Act — introduced by Representatives French Hill and Bryan Steil — is preparing for markup in the House Financial Services Committee on April 2. While some lawmakers are advocating for resolving differences between the two bills, others argue that adopting the Senate’s version would streamline the process and avoid further delays.
Supporters of the GENIUS Act believe its swift passage could provide much-needed regulatory clarity to the stablecoin market, a rapidly growing sector in the digital asset space. The White House’s push for fast-tracking the bill reflects growing political urgency to establish a stable legal framework around crypto-based financial instruments.
As both the Senate and House move forward with their respective versions, the next few weeks will be critical in determining whether the GENIUS Act can emerge as the unified legislation guiding stablecoin oversight in the U.S.
