Crypto investors are contemplating a "stablecoin summer" in the wake of the GENIUS Act, which passed with 68-30 Senate support last week and now moves to the House of Representatives for further consideration. While the bill still needs to pass the House, several revisions have been included in the current version to garner support from both Democratic and Republican teams, and it's widely expected that President Trump will sign it into law if the House votes in favor.
The bill establishes a framework for so-called stablecoins, which aim to maintain a stable value rather than fluctuating violently like most cryptocurrencies.
