Trump, stablecoin
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The US House passes the GENIUS stablecoin bill, establishing federal regulation as it awaits President Trump's signature to become law.
Unlike more volatile cryptocurrencies, stablecoins are designed to hold their value and settle payments instantly, around the clock.
Bank of America CEO Brian Moynihan said the bank is exploring stablecoin initiatives, as Congress considers a bill that would allow private companies to issue their own.
President Donald Trump said Tuesday, July 15, he has secured the commitment of House Republicans to vote in favor of the GENIUS Act after procedural failures halted its progress earlier in the day.
United States Congressional lawmakers debate key pieces of crypto regulatory bills on the floor of the House of Representatives.
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Bitcoin and other major cryptocurrencies traded higher Wednesday after President Donald Trump said he expects the House to pass the GENIUS Act.
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
Circle shares slid Tuesday after the House blocked a key procedural vote, stalling momentum on legislation the industry has counted on for regulatory clarity.