U.S. House Passes Stablecoin Bill—Trump To Sign Crypto Law Soon

Massive win for crypto! The U.S. House of Representatives has passed the Genius Act, a bill to regulate dollar-pegged stablecoins like USDC and Tether. The bill received rare bipartisan support, and is now headed to President Donald Trump, who is expected to sign it into law. The legislation will require monthly reserve disclosures and full asset backing for stablecoins. A companion bill, the Clarity Act, focused on crypto market structure, also passed the House and heads to the Senate. The move comes after crypto firms spent over $119M backing pro-crypto candidates in 2024. Is this the crypto breakthrough the industry’s been waiting for—or a political power play?