White House Pushes for Fast Tracking of the GENIUS Act

The White House is urging Congress to expedite the passing of the GENIUS Act, which regulates payment stablecoins.

This urgency aims to have the bill on President Donald Trump’s desk within two months, as reported by Crypto in America.

Introduced by Senator Bill Hagerty, the GENIUS Act passed the Senate Banking Committee on March 13 with an 18-6 vote. It is expected to reach the Senate floor for debate next month, with Majority Leader John Thune overseeing its progress.

If the bill garners significant bipartisan support—potentially reaching 70 votes—the White House and key lawmakers may seek to bypass the House’s competing STABLE Act through a reconciliation process.

This push for legislation aligns with earlier statements from the White House during its crypto roundtables and the Digital Asset Summit.

STABLE Act Markups

The STABLE Act, sponsored by Representatives French Hill and Bryan Steil, is scheduled for markup in the House Financial Services Committee on April 2. While some lawmakers aim to reconcile differences, others are urging the House to pass the Senate’s version without changes to avoid delays.

“Pressure is already mounting to move the bill quickly,” a crypto lobbyist told Crypto in America. “If GENIUS gets 70 votes, there’ll be a lot of pressure for the House to stand down and pass it as is.”

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