- Crypto Czar David Sacks praised Trump’s “One Big Beautiful Bill” for its “historic victories.”
- Sacks announced that the GENIUS Act for stablecoins is now “heading to the President’s desk.”
- He framed the upcoming crypto legislation as the next major win for the Trump administration
White House AI and crypto czar David Sacks celebrated the passage of a major legislative package he called “One Big Beautiful Bill,” while signaling that key crypto bills are the next major victories on the Trump administration’s agenda.
In a July 4th tweet, Sacks congratulated President Trump and legislative leaders for securing “historic victories on border security, tax cuts, welfare reform, deregulation.” He then immediately pivoted to the administration’s next priority, announcing, “Next up: Crypto Week in the House (July 14). GENIUS Act (stablecoins) is heading to the President’s desk. CLARITY Act (market structure) is heading to the Senate.”
This framing presents the upcoming crypto legislation as part of a successful and ongoing governing agenda, with Sacks promising “more victories to come.”
The GENIUS Act: The New Rulebook for Stablecoins
The US Senate passed the GENIUS Act bill on June 17 in a voting process where 68 lawmakers voted in favor against a 30-member minority. The Act establishes the first federal regulatory framework for a dollar-pegged stablecoin regime.
Related: ETH, XRP, SOL, TRX: GENIUS Act Lights a Fire Under Altcoins
Signing the bill into law will empower the US Treasury Department with oversight functions as contained in the GENIUS Act and open the doors for banks, fintech firms, and retailers to operate in a regulated stablecoin environment.
Next Up: The CLARITY Act Awaits House Action
Unlike the GENIUS Act, the Senate has yet to pass the CLARITY Act 2025 bill. However, analysts and economic stakeholders are optimistic that it would sail through legislation like the GENIUS Act. The CLARITY Act was introduced to the House of Representatives on May 29, 2025, and advanced by House committees on June 10, 2025. It is currently awaiting consideration by the full House of Representatives.
The Broader Agenda: Cementing U.S. Leadership
The recent developments highlight the progress made by the Trump administration in pursuing its goal in the digital assets sector in line with the President’s aim to make America the crypto capital of the world.
Related: Trump’s Push for Speed Puts Senate-Passed GENIUS Act to a Political Test in the House
Many analysts believe the newly passed GENIUS Act and other related bills will promote stablecoin adoption and enhance the US digital assets ecosystem, with a significant effect on the broader cryptocurrency industry.
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