Donald Trump Promises To Show The World US Will Win With Digital Assets Following GENIUS Bill Passing In The Senate

Just hours after the U.S. Senate passed the long-awaited GENIUS Act, former President Donald Trump took to social media to celebrate the bill’s approval – calling it “pure GENIUS” and declaring that the U.S. will be the “undisputed leader in digital assets.”

In a post dated June 18, Trump urged the House to move “LIGHTNING FAST” and pass a “clean” version of the legislation without delays or amendments. “This is American brilliance at its best,” he wrote, vowing to show the world how to win with digital assets.

What the GENIUS Act Does

The GENIUS Act, short for “Guiding and Establishing National Innovation for U.S. Stablecoins,” passed the Senate with a strong 68–30 bipartisan vote on June 17. The bill is widely considered the most comprehensive U.S. regulatory framework for stablecoins to date.

Key Provisions:

• 1:1 Reserve Backing: Stablecoins must be backed fully by liquid, low-risk assets like U.S. dollars, Treasuries, or repos.
• Monthly Transparency: Issuers must disclose reserve compositions monthly and comply with Bank Secrecy Act (BSA) and AML rules.
• Audits for Large Issuers: Any issuer with over $50B in market cap must submit annual audited financials.
• Holder Protections: If an issuer fails, holders get first claim to reserves.
• Three Issuer Tracks: Allows for issuance by banks, federal nonbank institutions, or state-regulated firms that meet federal standards.
• Big Tech Restrictions: Firms like Meta or Apple must gain unanimous approval from the Fed, Treasury, and FDIC to issue stablecoins—and cannot use payment data for advertising.
• No Yield-Bearing Stablecoins: Designed to prevent risky interest-generating models that mimic traditional securities.

The act also includes ethics rules, requiring lawmakers and senior officials to disclose stablecoin holdings above $5,000—but stops short of applying these rules to the President and family members.