- President Trump meets with 11 of 12 congressmen needed for GENIUS Act passage.
- Trump declares “Happy Crypto Week,” positioning America as the digital asset leader.
- David Sacks praises Trump’s dealmaking skills and cryptocurrency leadership.
President Donald Trump has secured agreement from 11 of the 12 congressmen required to advance the GENIUS Act, announcing the commitment following an Oval Office meeting on July 15. The legislation aims to establish America as the “undisputed, number one leader in digital assets,” according to Trump’s social media statements.
House Speaker Mike Johnson participated in the meeting via telephone and expressed eagerness to schedule the vote as early as possible. Trump thanked the congressional representatives for their prompt and positive response to the digital asset legislation, which has gained bipartisan momentum.
The President declared “Happy Crypto Week” while emphasizing that the GENIUS Act will position America “lightyears ahead of China, Europe, and all others” in digital asset development.
Presidential Advocacy Drives Legislative Momentum
The President’s message is one of urgency, calling on “ALL REPUBLICANS SHOULD VOTE YES!” and stating that the moment is a turning point for American leadership in digital assets. His strategy is one of policy advocacy and political mobilization to spur swift passage. David Sacks, the White House’s top advisor on crypto and AI, praised President Trump’s recent actions by referring to him as the “dealmaker-in-chief.”
The timing is also in response to heightened international competition in regulating digital assets, as Asian and European markets establish their own cryptocurrency regulations. Trump’s messaging places the GENIUS Act squarely as of utmost importance in maintaining American competitive edges in a changing financial technology environment.
Trump’s Changing Crypto Stance Over The Years
Trump’s current cryptocurrency advocacy represents a complete reversal from his previous positions, in which he dismissed Bitcoin as “not money” and called it a “scam” that threatened U.S. dollar dominance. His 2019 statements characterized digital assets as having value “based on thin air” while expressing concerns about volatility and illegal usage.
The change from a crypto critic to a self-proclaimed “crypto president” occurred during his 2024 campaign, when Trump embraced digital assets as a core economic policy. His acceptance of cryptocurrency donations and his promise to roll back restrictive regulations demonstrate the political evolution that now drives legislative priorities, such as the GENIUS Act, through Congress.
Related: Congresswoman Maxine Waters Fights “Corrupt” Crypto Bills Tied to Trump
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