House Passes Landmark Stablecoin Bill, Sends It to Trump’s Desk

House lawmakers passed a landmark stablecoin bill on July 17 in a vote of 308–122, sending it to President Donald Trump’s desk for his signature. The Genius Act—Guiding and Establishing National Innovation for U.S. Stablecoins Act—aims to establish the first federal framework for stablecoin regulation. Stablecoins are a type of cryptocurrency designed to maintain a nominal value, usually a 1-to-1 dollar peg. After passing in the Senate in June with a 68–30 vote, the legislation was sent to the House. The lower chamber rejected a key procedural vote on setting terms for the bill’s floor debate. Lawmakers voted 196–223 on July 15, with 13 Republicans siding with Democrats....