Former President Trump announced that conservative factions within Congress, which had previously rejected the cryptocurrency bill, were persuaded to advance the bill.
On the 15th local time, Trump posted on his social media platform, Truth Social, stating, “I am in the Oval Office with 11 of the 12 necessary House representatives to pass the ‘Genius Bill’,” and added, “After a short discussion, they all agreed to vote in favor of the rule tomorrow morning.”
Trump also mentioned that Mike Johnson, the Speaker of the U.S. House of Representatives, joined the meeting via phone call.
Speaker Johnson expressed his gratitude to President Trump in a post on social media platform X (formerly Twitter), acknowledging his involvement that night and reemphasizing his commitment to assist in advancing additional cryptocurrency bills within the next few days to ensure the passage of the Genius Bill.
Bloomberg News reported that after President Trump’s persuasion, the Republican House leadership’s plan to pass the Genius Bill and two other cryptocurrency bills seems to be back on track.
Previously, the U.S. House had planned to pass three cryptocurrency bills, including the Genius Bill aimed at integrating stablecoins into the regulatory framework, within the week. However, due to disagreements over how to handle the bills, the rule vote essential for starting the review process was defeated.
[Photo Source: AP=Yonhap News]