The US House of Representatives passed the the GENIUS Act on Thursday evening, the first federal legislation to create a regulatory framework for stablecoins.
Stablecoins are cryptocurrencies tied to stable assets such as the US dollar to maintain a fixed value, designed to function as reliable instruments for payments and financial services.
The GENIUS Act establishes regulatory clarity for stablecoin issuers, including banks and non-bank financial institutions, requiring them to hold sufficient reserves, adhere to anti-money laundering (AML) and sanctions compliance, and meet consumer protection standards.
According to the Treasury Department, the stablecoin market could grow to $3.7 trillion by 2030, making regulatory oversight increasingly urgent.
The GENIUS Act passed the House with strong bipartisan support in a 308-122 vote, following its earlier approval in the Senate. It now heads to President Donald Trump’s desk, where it is expected to be signed into law.
The legislation is part of a broader push in Congress nicknamed “Crypto Week” that also includes the Digital Asset Market Clarity Act, which delineates regulatory authority between the Securities and Exchange Commission and the Commodity Futures Trading Commission, and the Anti-Central Bank Digital Currency Act, which seeks to block the Federal Reserve from launching a central bank digital currency.
A win for all digital assets
deVere group CEO Nigel Green welcomed the passage of the GENIUS Act as the most aggressive shift yet in Washington’s approach to digital assets.
“This changes everything,” Green said. “For the first time, the US government is not just ‘tolerating’ crypto—it’s codifying it. The world’s largest economy is laying down the legal foundations for digital assets to thrive.”
Green noted that while the bill provides regulatory clarity to stablecoins, it sends the broader message that digital assets are central to the future of money.
“As confidence and capital flood into the ecosystem, Bitcoin stands to gain the most. It is the global reserve asset of this new paradigm,” he said.
deVere Group reaffirmed its $150,000 Bitcoin price prediction by the year-end, seeing the legislation as a turning point in monetary and technological policy that will trigger rapid acceleration in adoption, capital flows, and international competition.
“There are only ever going to be 21 million Bitcoin,” Green pointed out. “At a time when demand is exploding and credibility is cementing, the supply-demand equation becomes brutally simple. That’s why $150,000 isn’t just possible—it’s increasingly probable.”
Bitcoin traded hands just shy of $119,000 on Friday morning, up more than 27% so far in 2025.
Shares of cryptocurrency trading platforms also gained, with Coinbase Global Inc (NASDAQ:COIN) up almost 8%, Robinhood Markets Inc (NASDAQ:HOOD) added 6.6% and Riot Platforms Inc (NASDAQ:RIOT) up 5.3%.