GENIUS Act Back on Track as Trump Wins Support from Lawmakers, BTC Price Jumps

Discover key highlights within the DeFi house. This article dives into: “GENIUS Act Back on Track as Trump Wins Support from Lawmakers, BTC Price Jumps”.

Momentum behind the GENIUS Act has returned after President Donald Trump secured new backing from House members, respiratory life into crypto laws that briefly stalled in Congress. The legislative push confronted surprising delays, nevertheless it now appears to be like set for an additional essential vote.

Trump Rallies Lawmakers to Rescue GENIUS Act

In a direct enchantment from the Oval Office, Trump revealed in a Truth Social publish that he had met with 11 members of Congress who had beforehand opposed advancing the GENIUS Act and associated crypto measures. 

Following what Trump described as a “short discussion,” the lawmakers agreed to again the invoice in an upcoming procedural vote. 

I’m within the Oval Office with 11 of the 12 Congressmen/ladies essential to go the GENIUS Act, and, after a brief dialogue, they’ve all agreed to vote tomorrow morning in favor of the Rule. Speaker of the House Mike Johnson was current through phone and appears ahead to taking the Vote as early as potential. 

The turnaround comes after the House had earlier blocked a key procedural vote, stalling the GENIUS Act alongside the CLARITY Act and Anti-CBDC Act. The failed 196-222 vote was a mirrored image of inner Republican disagreements, notably amongst members of the House Freedom Caucus who opposed combining crypto laws with defence appropriations.

The GENIUS Act proposes the primary federal regulatory framework for dollar-pegged stablecoins. It would create authorized avenues for personal firms to subject digital forex and grant the Treasury Department oversight authority. The invoice beforehand handed the Senate with a bipartisan 68-30 vote in June, though some Democrats voiced issues over potential hyperlinks to Trump’s crypto pursuits.

A brand new procedural vote is now set for round 12:20 PM on July 15, in response to a House schedule replace from Majority Leader Steve Scalise. If profitable, the House might debate and vote on ultimate passage shortly afterward, placing the GENIUS Act again on observe towards turning into legislation.

NEW: Another procedural vote has been scheduled for tomorrow round 12:20PM, in response to the House voting schedule simply despatched out by @SteveScalise. If the procedural vote passes, we might see debate and ultimate passage votes begin afterwards.

— Eleanor Terrett (@EleanorTerrett) July 16, 2025

Bitcoin Swings as Trump Revives Crypto Bill Support

The GENIUS Act’s uncertainty briefly weighed on crypto markets. Bitcoin, which had surged to a brand new all-time excessive of $123,260 in anticipation of Crypto Week, retreated to $115,735 after the failed vote. Prices have since rebounded to round $117,000 mark as optimism grows over renewed legislative momentum.

Crypto markets had been momentarily affected by the uncertainty surrounding the GENIUS Act. After the unsuccessful vote, Bitcoin, which had risen to a brand new all-time excessive of $123,260 forward of Crypto Week, fell to $115,735. Since then, costs have elevated to about $117,000 as hope for a brand new legislative push grows.

House divisions stay, nevertheless. Lawmakers such as Marjorie Taylor Greene have criticized the invoice for not containing a strict ban on a central financial institution digital forex (CBDC). She warned it might turn into a “back door” for introducing government-backed digital cash.

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Michael Adeleke

Michael Adeleke is a passionate crypto journalist identified for breaking down complicated blockchain ideas and market developments into clear, participating narratives. He makes a speciality of delivering well timed information and sharp market evaluation that retains crypto fans knowledgeable and forward of the curve. With an engineering background and a level from the University of Ibadan, Michael brings analytical depth and precision to each piece he writes.

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