Former U.S. President Donald Trump urged the House of Representatives to quickly pass the "Guidance and Establishment of the U.S. Stablecoin National Innovation Act" (GENIUS Act) so that he can officially sign it into law.
"Just now, the Senate passed an incredible bill that will make the U.S. the undisputed leader in the digital asset space," Trump stated in a Truth Social post on Thursday, calling on the House to pass the bill "at lightning speed."
"Get it to my desk as soon as possible—no delays, no conditions attached," the U.S. President said regarding the GENIUS Act.
His post came after the U.S. Senate voted 68 to 30 to pass the GENIUS Act on Tuesday.
The House will next vote, where Republicans also maintain a slim majority over Democrats.
Many supporters of the GENIUS Act believe that the bill will play a key role in maintaining the dollar's dominance in global finance.
The bill's sponsor, Senator Bill Hagerty, stated that it will enable "businesses of all sizes and Americans across the country to settle payments almost instantly, without having to wait days or even weeks."
The GENIUS Act initially failed in a Senate termination debate vote in May due to Democratic opposition to Trump's ties to the crypto industry.
Related: The GENIUS Act is expected to make stablecoins "a part of U.S. financial infrastructure."
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