Experts say the legislation could unleash a tidal wave of new stablecoins—and fresh complaints about President Trump's crypto entanglements.

Backers of the Genius Act, a potentially landmark bill that could help "stablecoins" go mainstream, say it would greatly speed electronic payments.

The GENIUS Act is likely to be signed into law on Friday and is set to change how stablecoin issuers operate both in the US and overseas.

Labs, has hailed the passage of the GENIUS Act as a “transformational legislation” that marks a historic turning point for the U.S. financial sector, drawing parallels to the Dodd-Frank Act of 2010.

On Tuesday, a dozen conservatives sank a procedural vote to advance three crypto bills, including the GENIUS Act, which would establish a regulatory framework for the $250 billion market for stablecoins, a type of cryptocurrency tied to the value of an asset like the U.S. dollar.

The U.S. House of Representatives passed the Genius Act, creating a regulatory framework for stablecoins, and sent it to President Trump for approval. This development boosts the digital asset industry by promising regulatory clarity and consumer protection while reinforcing U.

With Ethereum sitting at the center of the GENIUS Act tailwind, stablecoin dominance, and growing institutional allocations, a push to $4k before Q3 close is increasingly looking like a base case.

After clearing a procedural hurdle in the House of Representatives by a 215-211 vote on 16 July, the GENIUS Act now heads to floor debate, having already secured bipartisan Senate