The bid to set clear working rules for the cryptocurrency industry in the U.S. got a booster pill Thursday as the House of Representatives passed key pieces of legislation.
The passage was cheered by the cryptosphere and top officials of the Trump administration.
What happened: SEC Chair Paul Atkins deemed the passage of the GENIUS Act, also known as the stablecoin bill, a “historic milestone” for crypto entrepreneurs and market participants.
“I look forward to watching the market leverage the regulatory framework provided by the GENIUS Act to go to market with payment stablecoin solutions that make transactions quicker, cheaper, and safer,” Atkins said in a statement.
Brian Armstrong, CEO of America’s largest cryptocurrency exchange, Coinbase Global Inc. (NASDAQ:COIN), described the development as “huge” and stated that the industry is “incredibly close to having a clear regulatory framework.”
Huge!GENIUS ready to be signed into law.CLARITY heading the senate next. We are getting incredibly close to finally having clear rules for crypto to grow this industry in the United States of America. https://t.co/8Bv23pcJAX
— Brian Armstrong (@brian_armstrong) July 17, 2025
Jeremy Allaire, co-founder and CEO of the newly listed stablecoin-issuing company, Circle Internet Financial (NYSE:CRL), commended Congress …Full story available on Benzinga.com
