Crypto Chaos: Will the GENIUS Act Survive the House of Representatives? 🤔💰

by

In a remarkable twist of fate, the GENIUS Act has waltzed through the Senate, buoyed by a rare bipartisan embrace, marking a historic moment in the crypto saga of the United States. But the question lingers like a bad smell: when will this act transform into law? 🤷‍♂️

As we ponder the fate of this stablecoin bill, let us embark on a journey through the labyrinthine corridors of Congress, where the next steps for the GENIUS Act await like a cat ready to pounce on a mouse.

Positive Indicators:

  • Senate momentum is like a freight train, adding pressure on the House to act swiftly, especially before the August recess. 🚂💨
  • The bipartisan Senate vote provides a cozy blanket of political cover for moderate House members to lend their support. 🛌
  • Key House Republicans, particularly those on the Financial Services Committee, are waving the flag for regulatory clarity on stablecoins. 🏳️

Friction Points:

  • Some House Democrats remain skeptical, particularly regarding consumer protection and systemic risk oversight—some have even labeled the Senate version as too cozy with the industry. 😬
  • Maxine Waters, the ranking Democrat on the Financial Services Committee, is pushing her own STABLE Act, which is stricter than a school principal on a Monday morning. 📚
  • House leadership may insist on modifications, potentially triggering a conference committee to reconcile with the Senate version. Oh, the drama! 🎭

Conference Committee (If Needed)

If the House decides to play with the language, both chambers will form a conference committee to negotiate a unified text. This stage is where discrepancies are addressed, such as oversight regimes, reporting frequency, and issuance thresholds. Sounds thrilling, right? 😏

After reaching an agreement, both the House and Senate must approve the final reconciled bill. Fingers crossed! 🤞

Presidential Signature

Once both chambers pass identical text, it will be sent to President Trump for his signature. The president has 10 days (excluding Sundays, of course) to sign it into law or let it become law without his signature. Talk about a cliffhanger! 📅

Upon enactment, agencies (Fed, OCC, FDIC, CFTC, etc.) have 180 days to issue final rules capturing oversight, reserve requirements, audits, licensing, disclosures, and enforcement protocols. The clock is ticking! ⏰

bg-white”>

By late July, before recess

Expected Timing

House vote

By late July before recess

Conference Committee (if needed)

Late July – early August

Final congressional approval

Mid-August

Presidential signature

Late August (within 10 days post-passage)

Rulemaking completion

Approximately late February 2026 (180 days after enactment)

If the House fails to act by August, the GENIUS Act risks losing momentum. While it won’t kill the bill outright, it could push final resolution into late Q4 2025 or even 2026, depending on how the political winds shift. 🌪️

In the grand scheme of things, speed is of the essence if lawmakers wish to lock in bipartisan support and seize the moment of institutional readiness. Let the games begin! 🎉

Read More

2025-06-19 20:54