Experts say the legislation could unleash a tidal wave of new stablecoins—and fresh complaints about President Trump's crypto entanglements.

Congress defines the Genius Act, also known as the Guiding and Establishing National Innovation for US Stablecoins, as providing "regulation of payment stablecoins" making it "unlawful for any person other than a permitted payment stablecoin issuer to issue a payment stablecoin in the United States."

Backers of the Genius Act, a potentially landmark bill that could help "stablecoins" go mainstream, say it would greatly speed electronic payments.

The GENIUS Act is likely to be signed into law on Friday and is set to change how stablecoin issuers operate both in the US and overseas.

The stablecoin regulation bill looked dead in the water on Tuesday, but Trump now indicates progress. Adjacent stocks like Circle are reacting.

MARA CEO Fred Thiel discusses the impact of the GENIUS Act on the company, the 'rapidly maturing' crypto industry and U.S. energy policy during and interview on 'Mornings with Maria.'

With Ethereum sitting at the center of the GENIUS Act tailwind, stablecoin dominance, and growing institutional allocations, a push to $4k before Q3 close is increasingly looking like a base case.

In what's now officially the longest vote in the history of the U.S. House of Representatives, lawmakers stalled for over seven hours and 24 minutes Wednesday night over a cryptocurrency rule vote that nearly imploded under GOP infighting.