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The White House is pushing Congress to accelerate the passage of the GENIUS Act, a bill aimed at regulating payment stablecoins.
This pressure comes with the goal of getting it to President Donald Trump’s desk within two months, Crypto in America reported.
The bill, introduced by Senator Bill Hagerty, passed the Senate Banking Committee on March 13 with an 18-6 vote. It is expected to reach the Senate floor for debate next month, with Majority Leader John Thune overseeing its progress.
If the bill secures strong bipartisan support — potentially reaching 70 votes — the White House and key lawmakers may push to bypass a reconciliation process with the House’s competing STABLE Act.
This news about legislation on Trump’s desk in two months is consistent with previous statements from the White House during its crypto roundtables and the Digital Asset Summit.
STABLE Act markups
The STABLE Act, sponsored by Representatives French Hill and Bryan Steil, is set for markup in the House Financial Services Committee on April 2. While some lawmakers want to resolve differences between the two bills, others are urging the House to pass the Senate’s version as-is to avoid delays.
“Pressure is already mounting to move the bill quickly,” a crypto lobbyist told Crypto in America. “If GENIUS gets 70 votes, there’s going to be a lot of pressure for the House to stand down and pass it as is.”