Trump Promotes Senate-Passed GENIUS Act for Crypto Innovation– Coincu
The U.S. Senate passed the GENIUS Act on June 18, 2025, with 68– 30 votes, aiming to foster massive investment in digital assets. The GENIUS Act seeks to provide a regulatory framework for payment stablecoins, promoting innovation and boosting market stability. Key supporters include President Trump and Senate Banking Committee Chair Tim Scott, highlighting leadership in cryptocurrency regulation.
Senate’s GENIUS Act Passes with Bipartisan Support
The GENIUS Act emerged with bipartisan backing, reflecting a unified effort to boost the United States’ position in digital innovation. The Senate’s approval marks a significant step, moving the focus to the House of Representatives for further action. Regulatory clarity is set to benefit the burgeoning stablecoin market, especially tokens like USDC and USDT, by establishing compliance paths. This could significantly expand the sector, aligning with Treasury forecasts of a potential $3.70 trillion market size.
“Today is a bold step forward– not just for financial growth, but for American leadership, consumer protection, and economic opportunity,” – Tim Scott, U.S. Senate Banking Committee Chairman.
GENIUS Act Mirrors EU’s Successful MiCA Framework
The GENIUS Act mirrors the EU’s MiCA regulation, which previously stimulated stablecoin adoption and laid a foundation for institutional onboarding in its jurisdiction. USDC is currently trading at $1.00 with a market cap of $61.52 billion, reflecting a stable market amidst recent legislative movements. It maintains a trading volume of $10.19 billion over 24 hours despite a slight 0.01% decrease in value based on CoinMarketCap records as of June 19.
Insights from the Coincu research team suggest potential development in stablecoin-backed DeFi applications, catalyzed by increased institutional interest. This follows trends seen in similar regulatory environments, indicating a positive outlook for U.S. digital asset markets.
