US President Donald Trump presses Congress to adopt the Genius on Stablecoins law without delay. A race against the clock begins to make the United States the world leader in digital assets. But does this precipitation hide personal interests?
In short
- Trump urges the House of Representatives to vote “ultra fast” on the Genius law after its adoption by the Senate.
- The bill establishes the first federal regulatory framework for stablecoins indexed to the dollar.
- Critics denounce the conflicts of potential interests with Trump's Crypto activities.
Trump impatient in the face of a historic opportunity
Donald Trump does not mince his words. On Tuesday, just after the Senate voted the Genius law, the president published a direct message on Truth Social.
“” The Senate has just adopted an exceptional bill which will make America the undisputed leader in digital assets “, He writing. He now asks the House of Representatives to act “at lightning speed”.
This emergency is not trivial. The Senate voted massively: 68 votes for, 30 against. It is a clear victory for the supporters of the Stablecoins.
Now the ball is in the camp of the House of Representatives. Republicans have a small majority, sufficient to pass the text.
Why so much pressure? Trump wants to position America as a world leader in cryptocurrencies.
Senator Bill Hagerty, who supports the project, simply explains it:
This law will allow companies and Americans to settle their payments almost instantly rather than waiting for days or even weeks.
In a world where speed counts, it is a major asset.
The stake goes far beyond the United States. Other countries create their own rules for cryptocurrencies. America wants to impose its standards first. The Senate's vote shows that this ambition takes shape.
Personal interests which question presidential neutrality
But Trump's eagerness raises questions. Senator Elizabeth Warren openly accuses him of conflict of interest. She claims that the president and his family could earn “hundreds of millions” in dollars with their own stablecoin if this law passes.
These accusations have solid bases. In 2024, Trump collected $ 57 million via World Liberty Financial. It also has nearly 16 billion WLFI tokens. Part of this money comes from the sale of tokens linked to its image as president. The coincidence between his personal gains and his support for this law raises questions.
The legislative process itself intrigues. Initially, an amendment was to prohibit federal elected officials and their families from taking advantage of the stablecoins.
This amendment has never been voted. Democrats cry out for “orchestrated maneuver”. Senator Merkley does not mince his words: ” These laws legitimize what looks like a massive scam draped in the American flag ».
Legislation with major geopolitical issues
Despite controversies, the Genius law marks a decisive step. It requires 100 %reserves, compulsory licenses and strict controls on the use of funds. Emitters will have to limit their investments to safe assets, such as treasury bills.
While the number of stablecoins holders exceeds 160 million worldwide and transactions volumes beat records, this regulation is timely.
If it is adopted, this legislation could transform stablecoins into real instruments of monetary sovereignty. The House of Representatives holds in his hands much more than a simple bill: perhaps the very future of the dollar in a world in full tokenization.
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