Donald Trump Gives Republicans New Demand In Race With China
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
President Donald Trump has ordered Republicans to get behind a new bill headed to the House on Tuesday, which he says will put the United States "lightyears ahead of China, Europe, and all others."
The GENIUS Act or Guiding and Establishing National Innovation for U.S. Stablecoins Act, aims to regulate stablecoins, a type of cryptocurrency pegged to stable assets like the U.S. dollar. The bill has already passed by the Senate and is set for a vote in the House before it lands on Trump's desk.
"The House will soon VOTE on a tremendous Bill to Make America the UNDISPUTED, NUMBER ONE LEADER in Digital Assets," the president said in a post on Truth Social.
This is breaking news, updates to follow.
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