‘This is our moment’: Trump urges GOP support for stablecoin, crypto clarity bills during Crypto Week

It's been billed as "Crypto Week" in Washington, D.C., and President Trump has chimed in.

"The House will soon VOTE on a tremendous Bill to Make America the UNDISPUTED, NUMBER ONE LEADER in Digital Assets - Nobody does it better!" Trump wrote Tuesday in a post on Truth Social. "The GENIUS Act is going to put our Great Nation lightyears ahead of China, Europe, and all others, who are trying endlessly to catch up, but they just can’t do it. Digital Assets are the FUTURE, and we are leading by a lot!"

The U.S. House of Representatives will consider two different initiatives this week: the stablecoin GENIUS bill and the Digital Asset Market Clarity Act. The House will also be considering a bill that would block the Federal Reserve from issuing a central bank digital currency directly to individuals.

GENIUS would require stablecoins to be fully backed by U.S. dollars or similarly liquid assets, mandate annual audits for issuers with a market cap of more than $50 billion, and establish guidelines for foreign issuance.

Meanwhile, the Clarity Act establishes a clear crypto regulatory framework by defining the roles of the SEC and CFTC, while also mandating retail disclosures and the separation of customer and corporate funds.

"If these bills pass through Congress during Crypto Week and eventually get signed into law, we've entered a new era," Bitwise CIO Matt Hougan said Tuesday. "Crypto is going mainstream, risk is being reduced, and Wall Street is moving into the space in a big way. No wonder we’re at all-time highs."

The price of bitcoin hit an all-time high on Monday and currently trades around $116,800, according to The Block's BTC data. The GMCI 30, which represents a selection of the top 30 cryptocurrencies, is up more than 15% over the past.

"Get the first Vote done this afternoon (ALL REPUBLICANS SHOULD VOTE YES!)," Trump said in his post. "This is our moment - Digital Assets, GENIUS, Clarity! It is all part of Making America Great Again, BIGGER AND BETTER THAN EVER BEFORE."

Rep. Maxine Waters, D-Calif., the top Democrat on the House Financial Services Committee, once again slammed President Trump's crypto connections on Monday.

"[Both bills] would legitimize and legalize the unprecedented crypto corruption by the president of the United States," Waters wrote in an op-ed. On Friday, she said, "these bills would make Congress complicit in Trump’s unprecedented crypto scam – one that has personally enriched himself, his entire family, and the billionaire insiders in his cabinet, all while defrauding investors."

Bloomberg recently estimated that President Trump has profited $620 million from his family's crypto ventures, which include World Liberty Financial and the TRUMP and MELANIA memecoins. The Trump family also has a 20% stake in the mining firm American Bitcoin, which is expected to go public.

"We are leading the World," Trump's post concluded, "and will work hard with the Senate and the House to get even more Legislation on this passed!"

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