House Majority Whip Tom Emmer Supports Advancement of GENIUS Act with CLARITY Act
House Majority Whip Tom Emmer has expressed his support for the stablecoin-centric GENIUS Act to move forward in the House, contingent on it being paired with the CLARITY Act. The CLARITY Act aims to establish a clear regulatory framework for digital asset markets in the United States, as reported by Punchbowl News.
The GENIUS Act, officially known as the Guiding and Establishing National Innovation for US Stablecoins Act, successfully passed the Senate on June 17 and was subsequently presented to the House on June 23.
On the other hand, the CLARITY Act, also referred to as the Digital Asset Market Clarity Act of 2025, recently cleared the US House Committee on Financial Services. The bill now awaits discussion and a vote on the House floor before potentially advancing to the Senate.
Following the Senate’s approval of the GENIUS Act, former President Donald Trump urged the House to swiftly pass the bill without any delays or additional amendments.
However, the legislation is encountering resistance in the House due to concerns regarding potential conflicts of interest associated with the Trump family’s involvement in the cryptocurrency sector.
Critics argue that the GENIUS Act, which aims to establish a federal framework for stablecoin issuance and trading, could lead to ongoing conflicts of interest, particularly given Trump’s ties to World Liberty Financial, a company that has introduced its own stablecoin, USD1.