French Hill: House Ready to Approve GENIUS Act – Bipartisan Support Grows

U.S. Congressman French Hill, chairman of the Subcommittee on Digital Assets, stated that the GENIUS Act now has enough votes to pass in the House of Representatives. According to Hill, the bill enjoys broad bipartisan support, along with the CLARITY Act and the Anti-CBDC Surveillance State Act. “I believe we have enough votes to pass the Senate version of the GENIUS Act, which will create a framework for stablecoins under federal oversight,” Hill told CNBC.

This development comes shortly after the first attempt at a procedural vote failed due to internal divisions within the Republican Party.

💬 Main Concerns: CBDCs vs. Privacy Some Republicans had previously blocked the bill over fears that it might pave the way for a central bank digital currency (CBDC) in the U.S. However, Hill assures that the legislation does not grant any such powers to the Federal Reserve. Similarly, Senator Tim Scott emphasized in an interview with FOX News that the bill poses no threat to personal liberties.

🏛️ Trump’s Intervention Is a Game-Changer A key turning point came after Donald Trump met with eleven Republican lawmakers in the Oval Office. The result was a pledge of support from previously hesitant GOP members, significantly increasing the likelihood of the bills passing. Hill now believes that all three proposals – GENIUS, CLARITY, and the Anti-CBDC Act – will be reintroduced in time for the critical July 17 deadline, a date that could shape the future of U.S. crypto regulation.

📈 Market Reacts The positive political signals were reflected in the crypto market. Bitcoin moved closer to the $119,000 mark, while Ethereum and Solana posted gains of 4% and 3.27%, respectively. Investors clearly see the legislative momentum as a step toward long-awaited legal clarity for digital assets.

#GeniusAtc , #crypto , #Regulation , #Stablecoins

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