The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act creates a regulatory framework for stablecoins, cryptocurrencies whose value is tied to a real-world asset, such as the dollar.

"President Trump and this Congress are correcting course and unleashing America's digital asset potential with historic, transformative legislation," House Majority Whip Tom Emmer remarked on Thursday after the bill passed the House.