Trump is expected to achieve his first major legislative victory on cryptocurrency policy next week

BlockBeats reported on July 11th that according to Politico, Trump is expected to achieve his first major legislative victory on cryptocurrency policy next week. Republicans in the House of Representatives are preparing to pass a bill previously submitted by the Senate to establish new regulatory rules for stablecoins. The US House of Representatives is expected to vote on the GENIUS bill proposed by the Senate early next week. The bill aims to establish the first regulatory framework in the United States for so-called 'stablecoins' pegged to the US dollar. The bill was passed in the Senate last month with bipartisan support and is expected to become the first major cryptocurrency regulatory measure adopted by the US Congress. Trump's signing of this stablecoin bill could provide a significant boost to the cryptocurrency industry, which has long struggled to enter the mainstream. Supporters of cryptocurrency hope that the endorsement of the US government and the customized regulatory framework they have actively lobbied Congress for over the years can enhance the legitimacy of cryptocurrency, promote its popularity, and open the door for traditional financial institutions to further enter digital assets. This legislation may also bring benefits to the Trump family itself: his sons founded a company that issues stablecoins last year.