Trump supports Crypto Week as Congress votes on GENIUS Act affecting digital asset policy.
- Trump supports Crypto Week; House votes on the GENIUS Act.
- Expanded stablecoin issuance in the U.S.
- Market shift expected as large firms may enter crypto.
President Trump officially endorses “Crypto Week” as Congress prepares to vote on the GENIUS Act in Washington.
The decision could lead to regulatory changes impacting the U.S. stablecoin market and involve major corporates potentially entering the sector.
Trump’s Crypto Week Supports GENIUS Act Momentum
President Trump declared “Crypto Week,” signaling his support for the GENIUS Act. The act could reshape the digital asset landscape in the U.S. Significant legislative attention is focused on stablecoin frameworks.
Trump transformed from a crypto skeptic to a promoter, now backing legislation aimed at reinforcing U.S. market dominance. Policymakers and industry leaders coordinate efforts to drive innovation in digital currencies.
Stablecoin Framework Could Revolutionize Corporate Payments
The potential regulatory changes are expected to impact corporations like Walmart and Amazon, which may issue their own stablecoins. This development could disrupt existing payment systems, particularly affecting Visa and Mastercard.
Financial experts suggest the GENIUS Act could increase institutional participation in the crypto market. Specific outcomes will depend on corporate and legislative responses to the clarified framework.
U.S. Looks to EU’s MiCA for Regulatory Inspiration
When the 2023 MiCA regulation in the EU provided clarity, it boosted stablecoin legitimacy. Similar outcomes could occur in the U.S., as institutional interest may rise post-legislation.
Experts predict the U.S. will possibly become a leader in the crypto sector due to the GENIUS Act. Historically, regulatory clarity results in increased institutional investment and market stability.
House Committee on Financial Services Chairman, – “…For the first time in U.S. history, we have a president who sees the value in embracing digital assets, and already we are working to capitalize on that,” – source.
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