U.S. President Donald Trump on Tuesday publicly called on all Republicans to vote in favor of the GENIUS Act, a sweeping crypto bill aimed at positioning the United States as the global leader in digital assets during what is now being billed as "Crypto Week."
What Happened: Taking to social media platform Truth Social, Trump said, “Happy Crypto Week! The House will soon VOTE on a tremendous Bill to Make America the UNDISPUTED, NUMBER ONE LEADER in Digital Assets – Nobody does it better!"
Calling the GENIUS Act "tremendous," Trump said it would put the U.S. "lightyears ahead of China, Europe, and all others," and asked that "ALL REPUBLICANS SHOULD VOTE YES!"
The move signals his administration's growing embrace of crypto-friendly policy, setting a sharp contrast with regulatory approaches under previous leadership.
“It is all part of Making America Great Again, BIGGER AND BETTER THAN EVER BEFORE,” Trump stressed in idiosyncratic fashion.
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Why It Matters: The GENIUS Act, short for Guiding Enhanced National Innovation for Unified Standards, is expected to clarify how cryptocurrencies are regulated across federal agencies.
Provisions in the bill address key industry issues like token classification, stablecoin frameworks, and U.S. competitiveness in blockchain development.
This vote comes amid "Crypto Week," an unofficial term used by industry insiders to describe the flurry of legislative and executive activity this week in support of digital assets.
Alongside the GENIUS Act, additional bills are expected to clarify how securities laws apply to blockchain tokens and establish new rules for stablecoin issuance.
While not expected to impact price action in major currencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), the bills will impact the regulatory framework cryptocurrencies like XRP (CRYPTO: XRP) operate under.
The GENIUS Act is seen by supporters as the first concrete step toward creating a U.S.-led digital economy infrastructure.
House lawmakers are expected to vote on the bill later today.
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