JUST IN: 🇺🇸 SEC Chair Paul Atkins congratulates the House of Representatives on passing the Genius Act. https://t.co/U6l5WPbHSq ...

JUST IN: The House will vote on the Genius Act later today.If passed, it could position the U.S. as the global hub for Bitcoin and crypto innovation. 🇺🇸🟠 https://t.co/pucHN571Dq ...

JUST IN: 🇺🇸 Senator Bill Hagerty confirms the House will vote on the GENIUS Act "this afternoon" 👀 https://t.co/lM8JLAXXhH ...

He says, "I'm in the old bill office with 11 of the 12 congressmen and women necessary to pass the Genius Act, and after a short discussion, they have all agreed to vote tomorrow in favor of the rule." Speaker of the House Mike Johnson was at the meeting via telephone. Looks forward to taking the vote as early as possible. I want to thank the Congresswoman for their quick and positive response.Make America great again. So this is probably going to. ...

The GENIUS act passing is extremely bullish for ETH.Watch. https://t.co/7Jv4hI8aM3 ...

Core Insights - Bitcoin's price surpassed $120,000 for the first time, reaching an all-time high of over $121,300 before settling around $120,720, marking a more than 2.5% increase in the past 24 hours [1][2] - Since the beginning of the year, Bitcoin's price has risen over 29.3%, recovering from a low of just over $75,000 in April [2] - The recent price surge is attributed to the anticipation of the Senate's approval of the GENIUS Act, which aims to regulate stablecoins [2][4] Price Movement - It took Bitcoin 53 days to rise from $110,000 to $120,000 after first surpassing $110,000 on May 21 [3] - The previous milestone of $100,000 was reached in 167 days, with significant price movements influenced by political events, including Trump's election [3] GENIUS Act Overview - The GENIUS Act introduces federal regulations for stablecoins, which are cryptocurrencies pegged to stable assets like the U.S. dollar, aiming to reduce volatility [4] - The act could enhance the trustworthiness of stablecoins, which represent a potential market of $238 billion [4] - New provisions will require stablecoin issuers to maintain asset reserves and prioritize coin holders for reimbursements in case of bankruptcy [4] Market Context - Bitcoin's rise follows significant market movements, including new highs for the Nasdaq and S&P 500, and major investments in cryptocurrency by companies like GameStop and Trump Media and Technology Group [5] - Trump's campaign promises to ease regulatory burdens on the crypto industry and establish a digital asset stockpile have contributed to the current bullish sentiment [5]

June 16, 2025 07:14 AM GMT Payments and Processing | North America M Idea Seven Things to Know about Stablecoins Stablecoin enthusiasm has grown recently as the GENIUS Act (which would codify stablecoin requirements) makes its way through the US Congress and large retailers are reportedly exploring issuing stablecoins. Here, we outline 7 things we think investors should know about stablecoins. Stablecoins defined. Stablecoins are generally a cryptocurrency category where the value of the coin is intended to ...