Trump Pushes GENIUS Act Back on Track as French Hill Confirms House Votes

Key Points

1. French Hill, Chair of the House Financial Services Committee, confirmed bipartisan support for the GENIUS Act, CLARITY Act, and Anti-CBDC Surveillance State Act.

2. Donald Trump met with Republican lawmakers who initially opposed the GENIUS Act, resulting in their changed stance and support for the bill.

3. The GENIUS Act aims to create a regulatory framework for dollar-backed stablecoins, while the CLARITY Act defines SEC and CFTC oversight roles, and the Anti-CBDC Surveillance State Act seeks to prevent the Federal Reserve from launching a CBDC.

4. Bitcoin, Ethereum, and Solana saw price increases amid renewed legislative momentum for crypto bills.

5. The House may vote on the bills before July 17, with the GENIUS Act (S.1582) potentially moving to the president's desk if passed.