Congress urged to expedite Genius Act by White House, according to news source

Congress is being urged by the White House to hasten the passage of the GENIUS Act, a legislative measure intended to oversee payment stablecoins.

This insistence arises with the objective of having it presented to President Donald Trump for approval within a span of two months, as reported by Crypto in America.

The bill, which was introduced by Senator Bill Hagerty, was passed by the Senate Banking Committee on March 13 with a vote of 18-6. It is projected to be presented on the Senate floor for deliberation next month, with Majority Leader John Thune supervising its advancement.

If the bill manages to garner robust bipartisan support, potentially achieving 70 votes, the White House and important legislators may press to sidestep a reconciliation process with the House's rival STABLE Act.

This development regarding legislation on Trump's desk in two months aligns with previous declarations from the White House during its crypto roundtables and the Digital Asset Summit.

STABLE Act revisions

The STABLE Act, sponsored by Representatives French Hill and Bryan Steil, is scheduled for revision in the House Financial Services Committee on April 2. While certain legislators are keen on addressing the disparities between the two bills, others are advocating for the House to pass the Senate's version without delay.

"The pressure to expedite the bill is already building up," a crypto lobbyist revealed to Crypto in America. "If GENIUS receives 70 votes, there will be significant pressure on the House to back down and pass it without modifications."