XRP Army Rejoices As Ripple CEO States the Importance of Passing GENIUS Act Into Law
2025-07-18 07:47:37
Main Idea
The U.S. House of Representatives passed the GENIUS Act, a significant financial regulation bill for stablecoins, with bipartisan support, which Ripple CEO Brad Garlinghouse praised as a historic step for U.S. leadership in financial technology.
Key Points
1. The GENIUS Act establishes a national regulatory framework for U.S. dollar-backed stablecoins, requiring licensing for issuers and prohibiting them from offering interest on their coins.
2. The Act was passed alongside two other major crypto bills: the Clarity for Digital Tokens Act and the Anti-CBDC Surveillance State Act, though these still require Senate approval.
3. XRP's price rallied over 9% following the news, and the Act is seen as a victory for Ripple, legitimizing stablecoins and enabling further integration into global payments.
4. President Trump is expected to sign the bill into law on July 18, 2025, with full enforcement anticipated by the end of 2026.
5. The GENIUS Act is considered the most consequential financial legislation since the Dodd-Frank Act of 2010, marking a significant step in U.S. financial regulation.
Description
A new chapter in the evolution of U.S. financial regulation is being written, and the XRP Army is celebrating. On July 17, 2025, the U.S. House of Representatives passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) with overwhelming bipartisan support (308–122). The bill had already cleared the Senate in June and now awaits President Donald Trump’s signature. Once signed, the GENIUS Act will become the most consequential piece of financial legislation si...
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