The House of Representatives passed the bill with 308–122 votes in favour.
Lawmakers also passed the CLARITY Act and an anti-CBDC bill, but both now need Senate approval.
The GENIUS Act, which sets out a framework for stablecoins in the US, has received the lawmakers' approval in the House of Representatives, clearing its way to become the first major crypto law in the country.
A Signature Away from Becoming Law
The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act now only needs President Donald Trump’s signature to take effect.
After receiving the Senate’s approval earlier, the Act got the final green light from the House of Representatives with a 308–122 vote in favour. More than 100 Democrats voted in favour of the GENIUS Act.
Yuval Rooz, CEO of Digital Asset (Source: LinkedIn)
“By moving from regulation through enforcement to clear rules, the US will strengthen its place as a global leader in cryptocurrencies and may encourage other countries to follow,” said Yuval Rooz, CEO and co-founder of Digital Asset.
Once enacted, the Act will require any firm issuing a payment stablecoin to:
Fully back each token with cash or short-term US Treasury securities held in segregated reserves;
Obtain a bank charter or a new federal or state “qualified” stablecoin licence;
Publish a detailed monthly reserve report;
Meet basic capital, liquidity, and anti-money-laundering standards;
Avoid paying interest simply for holding the coin.
By setting these basic rules, Congress aims to protect users, prevent runs, and give banks, fintechs and investors a clearer legal path to use dollar-backed digital cash with more confidence.
Laurent Descout, Founder & CEO of Neo
“With the passing of the GENIUS Act and major firms like Amazon and Walmart said to be exploring stablecoin-type payment models, it’s clear that digital assets are entering everyday use,” said Laurent Descout, CEO and co-founder of Neo.
“With clearer rules now in place, stablecoin use could grow quickly, and treasurers should be looking at the right partners and systems now to stay ahead,” he explained.
Besides the GENIUS Act, the House also voted in favour of two more crypto-related bills: the Digital Asset Market Clarity (CLARITY) Act, which aims to set a market structure for cryptocurrencies, and the Anti-CBDC Surveillance State Act, which would stop the Fed from launching or testing a retail central bank digital currency.
The CLARITY Act received 308–122 votes in favour, while the anti-CBDC bill passed with a 219–210 vote.
While the CLARITY Act now moves to the Senate, the Banking Committee is expected to hold a markup later this summer, though no Senate floor date has yet been set. The anti-CBDC bill also awaits Senate approval.
The GENIUS Act, which sets out a framework for stablecoins in the US, has received the lawmakers' approval in the House of Representatives, clearing its way to become the first major crypto law in the country.
A Signature Away from Becoming Law
The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act now only needs President Donald Trump’s signature to take effect.
After receiving the Senate’s approval earlier, the Act got the final green light from the House of Representatives with a 308–122 vote in favour. More than 100 Democrats voted in favour of the GENIUS Act.
Yuval Rooz, CEO of Digital Asset (Source: LinkedIn)
“By moving from regulation through enforcement to clear rules, the US will strengthen its place as a global leader in cryptocurrencies and may encourage other countries to follow,” said Yuval Rooz, CEO and co-founder of Digital Asset.
Once enacted, the Act will require any firm issuing a payment stablecoin to:
Fully back each token with cash or short-term US Treasury securities held in segregated reserves;
Obtain a bank charter or a new federal or state “qualified” stablecoin licence;
Publish a detailed monthly reserve report;
Meet basic capital, liquidity, and anti-money-laundering standards;
Avoid paying interest simply for holding the coin.
By setting these basic rules, Congress aims to protect users, prevent runs, and give banks, fintechs and investors a clearer legal path to use dollar-backed digital cash with more confidence.
Laurent Descout, Founder & CEO of Neo
“With the passing of the GENIUS Act and major firms like Amazon and Walmart said to be exploring stablecoin-type payment models, it’s clear that digital assets are entering everyday use,” said Laurent Descout, CEO and co-founder of Neo.
“With clearer rules now in place, stablecoin use could grow quickly, and treasurers should be looking at the right partners and systems now to stay ahead,” he explained.
Besides the GENIUS Act, the House also voted in favour of two more crypto-related bills: the Digital Asset Market Clarity (CLARITY) Act, which aims to set a market structure for cryptocurrencies, and the Anti-CBDC Surveillance State Act, which would stop the Fed from launching or testing a retail central bank digital currency.
The CLARITY Act received 308–122 votes in favour, while the anti-CBDC bill passed with a 219–210 vote.
While the CLARITY Act now moves to the Senate, the Banking Committee is expected to hold a markup later this summer, though no Senate floor date has yet been set. The anti-CBDC bill also awaits Senate approval.
Arnab Shome is an electronics engineer-turned-financial editor. He holds a Bachelor of Technology from the National Institute of Technology, Agartala. He entered the retail trading industry about a decade ago, covering the cryptocurrency market for Finance Magnates, and later expanded his coverage to include forex and CFDs as well.
His work at Finance Magnates includes C-level interviews, data-driven analysis, opinion pieces, and scoops of industry exclusives. He also contributes to Finance Magnates’ quarterly industry report.
Area of coverage:
1. CFD broker-related news
2. Industry-related Regulatory updates and developments
3. New retail trading trends
4. Prop trading industry updates
5. Executive interviews
Education:
Bachelor of Technology - National Institute of Technology, Agartala (India)
Virtu Financial Ireland Gets MiCA Approval and CASP License for EU Crypto Services
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If AI is the engine, data is the fuel. Without quality, accessible data, AI cannot work well; and without the right mindset, data remains just numbers instead of insight. In this session, leading experts will explore how AI and data are democratizing opportunities for businesses and personal growth. Discover practical ways to make AI accessible today, anticipate its transformative impact on African markets, and learn actionable steps to prepare for what's next. Let's talk about:
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-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
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-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
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-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
-How to access and maximise the power of data and AI
-Emerging AI and data trends in Africa and their economic ripple effects
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-How AI and data drive business efficiency and innovation in trading and fintech
-AI tools to elevate trading or business strategies
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-How AI and data drive business efficiency and innovation in trading and fintech
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Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
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-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
Most market post-mortems describe what happened to prices. Few describe what happened in the trading room while the position was open: the entry conviction, the moments that tested it, and the exit decision that closed the book.
This session brings one seasoned trader to the stage for an unfiltered account of the position that still defines how they think about markets.
Attendees will walk away with:
-A first-hand account of how a conviction trade is built, from thesis and entry through position management and exit
-Understanding of what turns a market observation into a live position, and what holds it when conditions shift
-Insight into how timing, execution quality, and market structure shaped the final result
-Perspective on what the trade revealed about edge, risk tolerance, and when to hold through a position moving against you
-Clarity on what separates a well-built trade from a well-timed one
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-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
As crypto and CFD trading continue to expand across Africa, access to advanced tools and market insights remains uneven. This session explores how AI and blockchain can bridge that gap by empowering informal traders and underserved communities to participate more effectively in digital financial markets. The discussion will focus on practical applications of technology to improve accessibility, education, and investment outcomes in both formal and informal sectors.
In this discussion, we will explore:
-The role of AI in democratizing access to trading tools, insights, and strategy development
-How crypto and blockchain can enable broader participation beyond traditional financial systems
-Addressing access barriers: infrastructure, education, and affordability in underserved communities
-Opportunities for brokers and platforms to tap into the informal trading economy
