The House of Representatives passed the GENIUS Act, which deals with stablecoin regulation, in a 308-122 vote on July 17.

Cryptocurrency has gained a hold in Americans’ investment portfolios and their retirement accounts — and now it’s a step closer to their wallets for everyday use.

President Donald Trump announced Tuesday evening that he reached a deal with Republican lawmakers to move a cryptocurrency bill forward in the House. Earlier that day, a dozen Republicans, among them House Freedom Caucus members and Rep.

Bitcoin and other major cryptocurrencies traded higher Wednesday after President Donald Trump said he expects the House to pass the GENIUS Act.

The main reason behind the pulled support was concerns regarding the lack of a “hard ban” on central bank digital currencies (CBDCs). “The GENIUS Act does not follow President Trump’s executive order because it does not ban a CBDC,” said Republican Marjorie Taylor Green in an X post.

President Donald Trump has announced that he made a deal with most of the House Republicans who derailed a procedural vote on a package of legislation, including three cryptocurrency bills.Trump wrote on Truth Social on Tuesday night: "I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and,

The GENIUS Act is good news for Ethereum because it is likely to ban competing yield-bearing stablecoins that often offer higher and simpler returns.

Trump scrambles to save the GENIUS Act after a failed House vote blocked debate. Freedom Caucus opposed the crypto bills’ bundling with defense legislation. Trump