Senate Republicans and President Donald Trump are once again putting pressure on the House, this time over cryptocurrency policy. The clash centers on how aggressively and how quickly Republicans should deliver on Trump’s high-profile promise to make the United States the global leader in crypto. The Senate already passed a bipartisan bill to regulate stablecoins, but House Republicans want to go further. As they prepare for a “crypto week” when lawmakers return Monday, GOP leaders in the House are weighing not only the Senate’s stablecoin measure but also a broader market-structure overhaul that would reshape securities and commodities rules for digital assets.
The main complication is that Trump and Senate Republicans insist on passing a clean version of the stablecoin bill—known as the GENIUS Act—without adding the House’s broader reforms. GOP senators argue that revising the measure would make it nearly impossible to win Democratic votes, with Sen. Bill Hagerty, the bill’s sponsor, openly warning that securing even eight or nine Democrats is extremely difficult. While House leaders say they won’t merge the bills, they have not ruled out amending the Senate version. Meanwhile, House Financial Services Chair French Hill is working to finalize his sweeping market-structure legislation ahead of next week’s vote.
The Senate’s 68–30 approval of the GENIUS Act marks a major milestone for the digital-asset sector. The bill would require stablecoins to be backed by highly liquid assets and mandate monthly public disclosures of reserves. Supporters say clear rules would expand mainstream adoption, and the industry has invested heavily in pro-crypto candidates to push legislation forward. The measure must still clear the GOP-controlled House before reaching Trump’s desk, and the White House—through adviser Bo Hines—has signaled its determination to see a stablecoin bill passed by August.